Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v2.4.0.8
EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2014
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, 2014 and 2013 (in millions, except per share amounts):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
2014
 
2013
 
2014
 
2013
Numerator:
 
 
 
 
 
 
 
Net income attributable to common shareowners
$
454

 
$
1,071

 
$
1,365

 
$
2,108

Denominator:
 
 
 
 
 
 
 
Weighted average shares
916

 
941

 
918

 
945

Deferred compensation obligations
1

 
1

 
1

 
1

Vested portion of restricted shares
1

 
1

 
1

 
2

Denominator for basic earnings per share
918

 
943

 
920

 
948

Effect of dilutive securities:
 
 
 
 
 
 
 
Restricted shares
8

 
8

 
8

 
7

Stock options
1

 
1

 
1

 
1

Denominator for diluted earnings per share
927

 
952

 
929

 
956

Basic earnings per share
$
0.49

 
$
1.14

 
$
1.48

 
$
2.22

Diluted earnings per share
$
0.49

 
$
1.13

 
$
1.47

 
$
2.21


Diluted earnings per share for the three months ended June 30, 2014 and 2013 exclude the effect of 0.1 and 0.0 million shares of common stock (0.1 million for the six months ended June 30, 2014 and 2013) respectively, that may be issued upon the exercise of employee stock options because such effect would be antidilutive.