EX-11 3 a10-5717_1ex11.htm EX-11

EXHIBIT 11

 

COMPUTATION OF BASIC AND DILUTED

EARNINGS PER SHARE

(UNAUDITED)

 

 

 

For the Three Months Ended

 

 

 

March 31, 2010

 

March 31, 2009

 

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

 

 

 

 

 

Weighted-average shares outstanding during period

 

1,301,183,192

 

1,344,289,642

 

Add - incremental shares under stock-based compensation plans

 

18,654,457

 

4,067,749

 

Add - incremental shares associated with contingently issuable shares

 

1,794,631

 

1,155,450

 

Number of shares on which diluted earnings per share is calculated

 

1,321,632,281

 

1,349,512,841

 

 

 

 

 

 

 

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

 

$

2,601

 

$

2,295

 

 

 

 

 

 

 

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

 

—

 

—

 

 

 

 

 

 

 

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

 

$

2,601

 

$

2,295

 

 

 

 

 

 

 

Earnings per share of common stock:

 

 

 

 

 

 

 

 

 

 

 

Assuming dilution

 

$

1.97

 

$

1.70

 

 

 

 

 

 

 

Basic

 

$

2.00

 

$

1.71

 

 

Stock options to purchase 73,998 shares and 92,354,000 shares were outstanding as of March 31, 2010 and 2009, 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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