Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.8.0.1
EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2017 and 2016 (in millions, except per share amounts):
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
2017
 
2016
 
2017
 
2016
Numerator:
 
 
 
 
 
 
 
Net income attributable to common shareowners
$
1,264

 
$
1,270

 
$
3,806

 
$
3,670

Denominator:
 
 
 
 
 
 
 
Weighted average shares
864

 
876

 
867

 
880

Deferred compensation obligations
1

 
1

 
1

 
1

Vested portion of restricted units
4

 
3

 
4

 
4

Denominator for basic earnings per share
869

 
880

 
872

 
885

Effect of dilutive securities:
 
 
 
 
 
 
 
Restricted units
4

 
4

 
3

 
3

Stock options
1

 
1

 
1

 
1

Denominator for diluted earnings per share
874

 
885

 
876

 
889

Basic earnings per share
$
1.45

 
$
1.44

 
$
4.36

 
$
4.15

Diluted earnings per share
$
1.45

 
$
1.44

 
$
4.34

 
$
4.13


There were no antidilutive securities for the three months ended September 30, 2017. Diluted earnings per share for the three months ended September 30, 2016 excluded the effect of 0.1 million shares of common stock (0.2 million for the nine months ended September 30, 2017 and 2016), that may be issued upon the exercise of employee stock options because such effect would be antidilutive.