Earnings Per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Basic earnings per share is computed by dividing: (i) net income by (ii) the weighted average number of shares outstanding in the period (the “Basic Shares”).

Diluted earnings per share is computed by dividing: (i) net income by (ii) Basic Shares plus the additional shares that would be issued assuming that all dilutive stock awards are exercised. Options to purchase approximately 0.1 million and 8.1 million shares of common stock were outstanding, but were not included in the calculation of diluted earnings per share for the three months ended March 31, 2014 and 2013, respectively, because the options’ exercise prices were greater than the average market price of the common shares and, therefore, the effect would be antidilutive.

The following is a reconciliation of basic and diluted earnings per share for the respective periods:

	Three Months Ended March 31,
In millions, except per share amounts	2014		2013
Numerator for earnings per share calculations:
Net income	$	1,129	$	954
Denominators for earnings per share calculations:
Weighted average shares, basic	1,180		1,232
Effect of dilutive securities:
Stock options	8		7
Restricted stock units	2		2
Weighted average shares, diluted	1,190		1,241
Net income per share:
Basic	$	0.96	$	0.77
Diluted	$	0.95	$	0.77