Earnings Per Share (Notes)

6 Months Ended

Jun. 30, 2015

Earnings per share is computed using the two-class method. Options to purchase 3.6 million and 1.8 million shares of common stock were outstanding, but were not included in the calculation of diluted earnings per share for the three and six months ended June 30, 2015, respectively, because the options’ exercise prices were greater than the average market price of the common shares and, therefore, the effect would be antidilutive. For the same reason, options to purchase approximately 4.1 million and shares 2.2 million of common stock were outstanding, but were not included in the calculation of diluted earnings per share for the three and six months ended June 30, 2014, respectively.

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



	Three Months Ended June 30,				Six Months Ended June 30,
In millions, except per share amounts	2015		2014		2015		2014
Numerator for earnings per share calculations:
Net income⁽¹⁾	$	1,265	$	1,246	$	2,481	$	2,375

Denominators for earnings per share calculations:
Weighted average shares, basic	1,124		1,165		1,126		1,172
Effect of dilutive securities	8		9		8		10
Weighted average shares, diluted	1,132		1,174		1,134		1,182

Net income per share:
Basic	$	1.13	$	1.07	$	2.20	$	2.03
Diluted	$	1.12	$	1.06	$	2.19	$	2.01


(1)	Comprised of net income less amounts allocable to participating securities of $7 million and $12 million for the three and six months ended June 30, 2015, respectively.