Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

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EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2012
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 months ended March 31, 2012 and 2011 (in millions, except per share amounts):
 
Three Months Ended
March 31,
2012
 
2011
Numerator:
 
 
 
Net income attributable to common shareowners
$
970

 
$
915

Denominator:
 
 
 
Weighted average shares
959

 
988

Deferred compensation obligations
2

 
2

Vested portion of restricted shares
1

 
2

Denominator for basic earnings per share
962

 
992

Effect of dilutive securities:
 
 
 
Restricted performance units
4

 
3

Restricted stock units
5

 
6

Stock option plans
1

 
1

Denominator for diluted earnings per share
972

 
1,002

Basic earnings per share
$
1.01

 
$
0.92

Diluted earnings per share
$
1.00

 
$
0.91


Diluted earnings per share for the three months ended March 31, 2012 and 2011 exclude the effect of 2.6 and 5.0 million shares of common stock, respectively, that may be issued upon the exercise of employee stock options, because such effect would be antidilutive.