Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.7.0.1
EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2017
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, 2017 and 2016 (in millions, except per share amounts):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
2017
 
2016
 
2017
 
2016
Numerator:
 
 
 
 
 
 
 
Net income attributable to common shareowners
$
1,384

 
$
1,269

 
$
2,542

 
$
2,400

Denominator:
 
 
 
 
 
 
 
Weighted average shares
867

 
881

 
868

 
883

Deferred compensation obligations
1

 
1

 
1

 
1

Vested portion of restricted units
4

 
4

 
4

 
3

Denominator for basic earnings per share
872

 
886

 
873

 
887

Effect of dilutive securities:
 
 
 
 
 
 
 
Restricted units
3

 
3

 
3

 
4

Stock options
1

 
1

 
1

 
1

Denominator for diluted earnings per share
876

 
890

 
877

 
892

Basic earnings per share
$
1.59

 
$
1.43

 
$
2.91

 
$
2.71

Diluted earnings per share
$
1.58

 
$
1.43

 
$
2.90

 
$
2.69


Diluted earnings per share for the three months ended June 30, 2017 and 2016 excluded the effect of 0.3 and 0.2 million shares of common stock, respectively (0.3 million for the six months ended June 30, 2017 and 2016), that may be issued upon the exercise of employee stock options because such effect would be antidilutive.