Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE

v3.6.0.2
EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
The following table sets forth the computation of basic and diluted earnings per share (in millions, except per share amounts):
 
 
2016
 
2015
 
2014
Numerator:
 
 
 
 
 
Net income attributable to common shareowners
$
3,431

 
$
4,844

 
$
3,032

Denominator:
 
 
 
 
 
Weighted-average shares
878

 
896

 
913

Deferred compensation obligations
1

 
1

 
1

Vested portion of restricted shares
4

 
4

 
2

Denominator for basic earnings per share
883

 
901

 
916

Effect of Dilutive Securities:
 
 
 
 
 
Restricted performance units
3

 
4

 
7

Stock options
1

 
1

 
1

Denominator for diluted earnings per share
887

 
906

 
924

Basic Earnings Per Share
$
3.89

 
$
5.38

 
$
3.31

Diluted Earnings Per Share
$
3.87

 
$
5.35

 
$
3.28


Diluted earnings per share for the years ended December 31, 2016, 2015 and 2014 exclude the effect of 0.2, 0.2 and 0.1 million shares, respectively, of common stock that may be issued upon the exercise of employee stock options because such effect would be antidilutive.