EX-11 2 a11-25576_1ex11.htm EX-11

EXHIBIT 11

 

COMPUTATION OF BASIC AND DILUTED

EARNINGS PER SHARE

(UNAUDITED)

 

 

 

For the Three Months Ended

 

 

 

September 30, 2011

 

September 30, 2010

 

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

 

 

 

 

 

Weighted-average shares outstanding during period

 

1,188,597,825

 

1,255,219,188

 

Add — Incremental shares under stock compensation plans

 

13,524,442

 

14,960,648

 

Add — Incremental shares associated with contingently issuable shares

 

2,754,037

 

2,572,282

 

Number of shares on which diluted earnings per share is calculated

 

1,204,876,305

 

1,272,752,118

 

 

 

 

 

 

 

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

 

$

3,839

 

$

3,589

 

 

 

 

 

 

 

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

 

—

 

—

 

 

 

 

 

 

 

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

 

$

3,839

 

$

3,589

 

 

 

 

 

 

 

Earnings per share of common stock:

 

 

 

 

 

 

 

 

 

 

 

Assuming dilution

 

$

3.19

 

$

2.82

 

 

 

 

 

 

 

Basic

 

$

3.23

 

$

2.86

 

 

Stock options to purchase 2,038 shares were outstanding as of September 30, 2010, 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. There were no stock options outstanding as of September 30, 2011 that were considered antidilutive.

 

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COMPUTATION OF BASIC AND DILUTED

EARNINGS PER SHARE

(UNAUDITED)

 

 

 

For the Nine Months Ended

 

 

 

September 30, 2011

 

September 30, 2010

 

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

 

 

 

 

 

Weighted-average shares outstanding during period

 

1,205,193,081

 

1,278,342,335

 

Add — Incremental shares under stock compensation plans

 

14,452,890

 

16,479,905

 

Add — Incremental shares associated with contingently issuable shares

 

2,472,033

 

2,200,028

 

Number of shares on which diluted earnings per share is calculated

 

1,222,118,004

 

1,297,022,268

 

 

 

 

 

 

 

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

 

$

10,365

 

$

9,576

 

 

 

 

 

 

 

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

 

—

 

0

 

 

 

 

 

 

 

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

 

$

10,365

 

$

9,576

 

 

 

 

 

 

 

Earnings per share of common stock:

 

 

 

 

 

 

 

 

 

 

 

Assuming dilution

 

$

8.48

 

$

7.38

 

 

 

 

 

 

 

Basic

 

$

8.60

 

$

7.49

 

 

Stock options to purchase 42,288 shares (average of first, second and third quarter share amounts) were outstanding as of September 30, 2010, 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.  There were no stock options outstanding as of September 30, 2011 that were considered antidilutive.

 

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