Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v2.4.0.6
EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 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 and six months ended June 30, 2012 and 2011 (in millions, except per share amounts):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
2012
 
2011
 
2012
 
2011
Numerator:
 
 
 
 
 
 
 
Net income attributable to common shareowners
$
1,116

 
$
1,092

 
$
2,086

 
$
2,007

Denominator:
 
 
 
 
 
 
 
Weighted average shares
959

 
984

 
959

 
986

Deferred compensation obligations
2

 
2

 
2

 
2

Vested portion of restricted shares
1

 
2

 
1

 
2

Denominator for basic earnings per share
962

 
988

 
962

 
990

Effect of dilutive securities:
 
 
 
 
 
 
 
Restricted performance units
3

 
3

 
4

 
3

Restricted stock units
5

 
6

 
5

 
6

Stock option plans
1

 
1

 
1

 
1

Denominator for diluted earnings per share
971

 
998

 
972

 
1,000

Basic earnings per share
$
1.16

 
$
1.11

 
$
2.17

 
$
2.03

Diluted earnings per share
$
1.15

 
$
1.09

 
$
2.15

 
$
2.01


Diluted earnings per share for the three months ended June 30, 2012 and 2011 exclude the effect of 2.6 and 5.1 million shares of common stock (2.6 and 5.0 million for the six months ended June 30, 2012 and 2011), respectively, that may be issued upon the exercise of employee stock options, because such effect would be antidilutive.