Profit Per Share

6 Months Ended

Jun. 30, 2017

Earnings Per Share [Abstract]

Profit Per Share

Profit per share

Computations of profit per share:	Three Months Ended June 30				Six Months Ended June 30
(Dollars in millions except per share data)	2017		2016		2017		2016
Profit for the period (A) 1	$	802	$	550	$	994	$	821
Determination of shares (in millions):
Weighted-average number of common shares outstanding (B)	590.2		584.1		588.8		583.4
Shares issuable on exercise of stock awards, net of shares assumed to be purchased out of proceeds at average market price	5.2		4.5		5.6		4.8
Average common shares outstanding for fully diluted computation (C) 2	595.4		588.6		594.4		588.2
Profit per share of common stock:
Assuming no dilution (A/B)	$	1.36	$	0.94	$	1.69	$	1.41
Assuming full dilution (A/C) 2	$	1.35	$	0.93	$	1.67	$	1.40
Shares outstanding as of June 30 (in millions)					591.0		584.2
1Profit attributable to common shareholders.
2Diluted by assumed exercise of stock-based compensation awards using the treasury stock method.

SARs and stock options to purchase 8,062,177 common shares were outstanding for the three and six months ended June 30, 2017, which were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive. For the three and six months ended June 30, 2016, there were outstanding SARs and stock options to purchase 26,168,384 and 28,919,076 common shares which were anti-dilutive.

In January 2014, the Board authorized the repurchase of up to $10.0 billion of Caterpillar common stock, which will expire on December 31, 2018. As of June 30, 2017, approximately $4.5 billion of the $10.0 billion authorization was spent.