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Profit Per Share
 3 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
Profit Per Share
Profit Per Share
 
Computations of profit per share:
Three Months Ended March 31,
 
(Dollars in millions except per share data)
2013
 
2012
 
Profit for the period (A) 1:
$
880

 
$
1,586

 
Determination of shares (in millions):
 
 
 

 
Weighted-average number of common shares outstanding (B)
656.2

 
650.0

 
Shares issuable on exercise of stock awards, net of shares assumed to be purchased out of proceeds at average market price
15.4

 
20.2

 
Average common shares outstanding for fully diluted computation (C) 2
671.6

 
670.2

 
Profit per share of common stock:
 

 
 

 
Assuming no dilution (A/B)
$
1.34

 
$
2.44

 
Assuming full dilution (A/C) 2
$
1.31

 
$
2.37

 
Shares outstanding as of March 31 (in millions)
657.5

 
652.3

 


1 
Profit attributable to common stockholders.
2 
Diluted by assumed exercise of stock-based compensation awards using the treasury stock method.
 
 
 
 
 


SARs and stock options to purchase 10,312,876 and 3,458,845 common shares were outstanding for the three months ended March 31, 2013 and 2012, respectively, but were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive.