Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.19.3
EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
The earnings per share amounts are the same for class A and class B common shares as the holders of each class are legally entitled to equal per share distributions whether through dividends or in liquidation.
The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2019 and 2018 (in millions, except per share amounts):
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
2019
 
2018
 
2019
 
2018
Numerator:
 
 
 
 
 
 
 
Net income attributable to common shareowners
$
1,750

 
$
1,508

 
$
4,546

 
$
4,338

Denominator:
 
 
 
 
 
 
 
Weighted average shares
858

 
860

 
859

 
861

Deferred compensation obligations
—

 
1

 
—

 
1

Vested portion of restricted units
6

 
4

 
6

 
4

Denominator for basic earnings per share
864

 
865

 
865

 
866

Effect of dilutive securities:
 
 
 
 
 
 
 
Restricted units
6

 
5

 
4

 
4

Stock options
—

 
—

 
—

 
—

Denominator for diluted earnings per share
870

 
870

 
869

 
870

Basic earnings per share
$
2.03

 
$
1.74

 
$
5.26

 
$
5.01

Diluted earnings per share
$
2.01

 
$
1.73

 
$
5.23

 
$
4.99


Diluted earnings per share for the three months ended September 30, 2019 excluded the effect of 0.3 million shares of common stock that may be issued upon the exercise of employee stock options, because such effect would be antidilutive. There were no antidilutive shares for the three months ended September 30, 2018. Antidilutive shares for the nine months ended September 30, 2019 and 2018 were 0.7 and 0.1 million, respectively.