Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v2.4.0.8
EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 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 for the three and nine months ended September 30, 2013 and 2012 (in millions, except per share amounts):
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
2013
 
2012
 
2013
 
2012
Numerator:
 
 
 
 
 
 
 
Net income attributable to common shareowners
$
1,097

 
$
469

 
$
3,205

 
$
2,555

Denominator:
 
 
 
 
 
 
 
Weighted average shares
933

 
958

 
941

 
959

Deferred compensation obligations
1

 
1

 
1

 
1

Vested portion of restricted shares
1

 
2

 
1

 
2

Denominator for basic earnings per share
935

 
961

 
943

 
962

Effect of dilutive securities:
 
 
 
 
 
 
 
Restricted shares
8

 
8

 
8

 
8

Stock options
1

 
1

 
1

 
1

Denominator for diluted earnings per share
944

 
970

 
952

 
971

Basic earnings per share
$
1.17

 
$
0.49

 
$
3.40

 
$
2.66

Diluted earnings per share
$
1.16

 
$
0.48

 
$
3.37

 
$
2.63


Diluted earnings per share for the three months ended September 30, 2013 and 2012 exclude the effect of 0.0 and 2.6 million shares of common stock (0.1 and 2.6 million for the nine months ended September 30, 2013 and 2012), respectively, that may be issued upon the exercise of employee stock options because such effect would be antidilutive.