Earnings Per Common Share (EPS)

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Common Share (EPS)

11. Earnings Per Common Share (EPS)

The computations of basic and diluted EPSwere as follows:

			Three Months Ended				Six Months Ended
			June 30,				June 30,
(Millions, except per share amounts)			2012			2011	2012			2011
Numerator:
	Basic and diluted:
		Income from continuing operations	$	1,339	$	1,295	$	2,595	$	2,472
		Earnings allocated to participating share awards(a)		(14)		(15)		(28)		(30)
		Income from discontinued operations, net of tax		―		36		―		36
		Net income attributable to common shareholders	$	1,325	$	1,316	$	2,567	$	2,478
Denominator:(a)
	Basic: Weighted-average common stock			1,145		1,190		1,151		1,190
	Add: Weighted-average stock options (b)			7		7		7		7
	Diluted			1,152		1,197		1,158		1,197
Basic EPS:
	Income from continuing operations attributable to common
		shareholders	$	1.16	$	1.08	$	2.23	$	2.05
	Income from discontinued operations			―		0.03		―		0.03
	Net income attributable to common shareholders		$	1.16	$	1.11	$	2.23	$	2.08
Diluted EPS:
	Income from continuing operations attributable to common
		shareholders	$	1.15	$	1.07	$	2.22	$	2.04
	Income from discontinued operations			―		0.03		―		0.03
	Net income attributable to common shareholders		$	1.15	$	1.10	$	2.22	$	2.07

(a)       The Company's unvested restricted stock awards, which include the right to receive non-forfeitable dividends or dividend equivalents, are considered participating securities. Calculations of EPS under the two-class method exclude from the numerator any dividends paid or owed on participating securities and any undistributed earnings considered to be attributable to participating securities. The related participating securities are similarly excluded from the denominator.

(b)For both thethree and six months endedJune 30, 2012, the dilutive effect of unexercised stock options excludes 8 millionoptions,from the computationof EPS because inclusion of the options would have been anti-dilutive.For the three and six months endedJune 30,2011, the dilutive effect of unexercised stock options excludes 19 millionand 20million options, respectively, from the computationof EPS because inclusion of the options would have been anti-dilutive.

For thethree and six months ended June 30, 2012 and 2011, the Companymet specified performance measures related to the Subordinated Debentures of $750 millionissued in 2006, which resulted in no impact to EPS.If the performance measures were not achieved in any given quarter, the Company would be required to issue common shares and apply the proceeds to make interest payments.