Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v2.4.0.8
EARNINGS PER SHARE
 9 Months Ended
Sep. 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 nine months ended September 30, 2014 and 2013 (in millions, except per share amounts):
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
2014
 
2013
 
2014
 
2013
Numerator:
 
 
 
 
 
 
 
Net income attributable to common shareowners
$
1,214

 
$
1,097

 
$
2,579

 
$
3,205

Denominator:
 
 
 
 
 
 
 
Weighted average shares
911

 
933

 
916

 
941

Deferred compensation obligations
1

 
1

 
1

 
1

Vested portion of restricted shares
1

 
1

 
1

 
1

Denominator for basic earnings per share
913

 
935

 
918

 
943

Effect of dilutive securities:
 
 
 
 
 
 
 
Restricted shares
8

 
8

 
8

 
8

Stock options
1

 
1

 
1

 
1

Denominator for diluted earnings per share
922

 
944

 
927

 
952

Basic earnings per share
$
1.33

 
$
1.17

 
$
2.81

 
$
3.40

Diluted earnings per share
$
1.32

 
$
1.16

 
$
2.78

 
$
3.37


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