Profit Per Share (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Computations of 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)	2020		2019		2020		2019
Profit for the period (A) 1	$	458	$	1,620	$	1,550	$	3,501
Determination of shares (in millions):
Weighted-average number of common shares outstanding (B)	541.5		567.8		544.5		569.9
Shares issuable on exercise of stock awards, net of shares assumed to be purchased out of proceeds at average market price	3.0		5.3		3.7		5.9
Average common shares outstanding for fully diluted computation (C) 2	544.5		573.1		548.2		575.8
Profit per share of common stock:
Assuming no dilution (A/B)	$	0.84	$	2.85	$	2.85	$	6.14
Assuming full dilution (A/C) 2	$	0.84	$	2.83	$	2.83	$	6.08
Shares outstanding as of June 30 (in millions)					541.5		562.6
1 Profit attributable to common shareholders.
2 Diluted by assumed exercise of stock-based compensation awards using the treasury stock method.