Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE

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EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2013
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):
 
 
2013
 
2012
 
2011
Numerator:
 
 
 
 
 
Net income attributable to common shareowners
$
4,372

 
$
807

 
$
3,804

Denominator:
 
 
 
 
 
Weighted average shares
937

 
957

 
977

Deferred compensation obligations
1

 
1

 
2

Vested portion of restricted shares
2

 
2

 
2

Denominator for basic earnings per share
940

 
960

 
981

Effect of dilutive securities:
 
 
 
 
 
Restricted performance units
7

 
8

 
9

Stock options
1

 
1

 
1

Denominator for diluted earnings per share
948

 
969

 
991

Basic earnings per share
$
4.65

 
$
0.84

 
$
3.88

Diluted earnings per share
$
4.61

 
$
0.83

 
$
3.84


Diluted earnings per share for the years ended December 31, 2013, 2012, and 2011 exclude the effect of 0.1, 2.6 and 7.4 million shares, respectively, of common stock that may be issued upon the exercise of employee stock options because such effect would be antidilutive.