Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

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EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2014
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, 2014 and 2013 (in millions, except per share amounts):
 
Three Months Ended
March 31,
 
2014
 
2013
 
Numerator:
 
 
 
 
Net income attributable to common shareowners
$
911

 
$
1,037

 
Denominator:
 
 
 
 
Weighted average shares
921

 
949

 
Deferred compensation obligations
1

 
1

 
Vested portion of restricted shares
1

 
2

 
Denominator for basic earnings per share
923

 
952

 
Effect of dilutive securities:
 
 
 
 
Restricted shares
7

 
7

 
Stock options
1

 
1

 
Denominator for diluted earnings per share
931

 
960

 
Basic earnings per share
$
0.99

 
$
1.09

 
Diluted earnings per share
$
0.98

 
$
1.08

 

Diluted earnings per share for the three months ended March 31, 2014 and 2013 exclude the effect of 0.1 and 0.2 million shares of common stock, respectively, that may be issued upon the exercise of employee stock options because such effect would be antidilutive.