Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE

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EARNINGS PER SHARE
 12 Months Ended
Dec. 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 (in millions, except per share amounts):
 
 
2012
 
2011
 
2010
Numerator:
 
 
 
 
 
Net income attributable to common shareowners
$
807

 
$
3,804

 
$
3,338

Denominator:
 
 
 
 
 
Weighted average shares
957

 
977

 
991

Deferred compensation obligations
1

 
2

 
2

Vested portion of restricted shares
2

 
2

 
1

Denominator for basic earnings per share
960

 
981

 
994

Effect of dilutive securities:
 
 
 
 
 
Restricted performance units
3

 
3

 
3

Restricted stock units
5

 
6

 
6

Stock options
1

 
1

 
—

Denominator for diluted earnings per share
969

 
991

 
1,003

Basic earnings per share
$
0.84

 
$
3.88

 
$
3.36

Diluted earnings per share
$
0.83

 
$
3.84

 
$
3.33


Diluted earnings per share for the years ended December 31, 2012, 2011, and 2010 exclude the effect of 2.6, 7.4 and 11.1 million shares, respectively, of common stock that may be issued upon the exercise of employee stock options because such effect would be antidilutive.