| EARNINGS PER SHARE The earnings per share amounts are the same for class A and class B common shares as the holders of each class are legally entitled to equal per share distributions whether through dividends or in liquidation.
The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2018 and 2017 (in millions, except per share amounts):
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Three Months Ended
September 30, |
Nine Months Ended
September 30, |
2018 |
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2017 |
2018 |
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2017 |
Numerator: |
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Net income attributable to common shareowners |
$ |
1,508 |
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$ |
1,259 |
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$ |
4,338 |
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$ |
3,809 |
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Denominator: |
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Weighted average shares |
860 |
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864 |
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861 |
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867 |
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Deferred compensation obligations |
1 |
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1 |
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1 |
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1 |
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Vested portion of restricted units |
4 |
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4 |
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4 |
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4 |
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Denominator for basic earnings per share |
865 |
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869 |
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866 |
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872 |
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Effect of dilutive securities: |
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Restricted units |
5 |
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4 |
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4 |
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3 |
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Stock options |
— |
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1 |
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— |
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1 |
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Denominator for diluted earnings per share |
870 |
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874 |
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870 |
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876 |
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Basic earnings per share |
$ |
1.74 |
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$ |
1.45 |
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$ |
5.01 |
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$ |
4.37 |
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Diluted earnings per share |
$ |
1.73 |
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$ |
1.44 |
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$ |
4.99 |
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$ |
4.35 |
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There were no antidilutive shares for the three months ended September 30, 2018 or 2017. Diluted earnings per share for the nine months ended September 30, 2018 and 2017 excluded the effect of 0.1 million 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.
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