EX-11 3 a09-16493_1ex11.htm EX-11

 

EXHIBIT 11

 

COMPUTATION OF BASIC AND DILUTED

EARNINGS PER SHARE

(UNAUDITED)

 

 

 

For the Three Months Ended

 

 

 

June 30, 2009

 

June 30, 2008*

 

Number of shares on which basic earnings per share is calculated:

 

 

 

 

 

Weighted-average shares outstanding during period

 

1,326,079,745

 

1,376,167,012

*

Add — Incremental shares under stock compensation plans

 

9,162,652

 

24,607,814

*

Add — Incremental shares associated with contingently issuable shares

 

1,703,389

 

1,284,249

 

Number of shares on which diluted earnings per share is calculated

 

1,336,945,786

 

1,402,059,075

*

 

 

 

 

 

 

Net income on which basic earnings per share is calculated (millions)

 

$

3,103

 

$

2,765

 

 

 

 

 

 

 

Less — net income applicable to contingently issuable shares (millions)

 

—

 

—

 

 

 

 

 

 

 

Net income on which diluted earnings per share is calculated (millions)

 

$

3,103

 

$

2,765

 

 

 

 

 

 

 

Earnings per share of common stock:

 

 

 

 

 

 

 

 

 

 

 

Assuming dilution

 

$

2.32

 

$

1.97

*

 

 

 

 

 

 

Basic

 

$

2.34

 

$

2.01

*

*            Reflects the adoption of FSP EITF 03-6-1, “Determining Whether Instruments Granted in Share-Based Payment Transactions Are Participating Securities.” See Note 2, “Accounting Changes,” on pages 7 to 9 for additional information.

 

Stock options to purchase 53,456,305 shares and 17,527,471 shares (average of first and second quarter share amounts) were outstanding as of June 30, 2009 and 2008, respectively, but were not included in the computation of diluted earnings per share because the options’ exercise price during the respective periods was greater than the average market price of the common shares and, therefore, the effect would have been antidilutive.

 

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COMPUTATION OF BASIC AND DILUTED

EARNINGS PER SHARE

(UNAUDITED)

 

 

 

For the Six Months Ended

 

 

 

June 30, 2009

 

June 30, 2008*

 

Number of shares on which basic earnings per share is calculated:

 

 

 

 

 

Weighted-average shares outstanding during period

 

1,335,184,694

 

1,385,230,561

*

Add — Incremental shares under stock compensation plans

 

6,615,201

 

20,105,476

*

Add — Incremental shares associated with contingently issuable shares

 

1,429,420

 

1,393,670

 

Number of shares on which diluted earnings per share is calculated

 

1,343,229,315

 

1,406,729,707

*

 

 

 

 

 

 

Net income on which basic earnings per share is calculated (millions)

 

$

5,398

 

$

5,084

 

 

 

 

 

 

 

Less — net income applicable to contingently issuable shares (millions)

 

—

 

—

 

 

 

 

 

 

 

Net income on which diluted earnings per share is calculated (millions)

 

$

5,398

 

$

5,084

 

 

 

 

 

 

 

Earnings per share of common stock:

 

 

 

 

 

 

 

 

 

 

 

Assuming dilution

 

$

4.02

 

$

3.61

*

 

 

 

 

 

 

Basic

 

$

4.04

 

$

3.67

*

*            Reflects the adoption of FSP EITF 03-6-1, “Determining Whether Instruments Granted in Share-Based Payment Transactions Are Participating Securities.” See Note 2, “Accounting Changes,” on pages 7 to 9 for additional information.

 

Stock options to purchase 72,905,153 shares and 29,006,212 shares (average of first and second quarter share amounts) were outstanding as of June 30, 2009 and 2008, respectively, but were not included in the computation of diluted earnings per share because the options’ exercise price during the respective periods was greater than the average market price of the common shares and, therefore, the effect would have been antidilutive.

 

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