Earnings Per Share (Notes)

9 Months Ended

Sep. 30, 2015

Earnings per share is computed using the two-class method. Options to purchase 3.5 million and 2.4 million shares of common stock were outstanding, but were not included in the calculation of diluted earnings per share, for the three and nine months ended September 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 2.8 million shares of common stock were outstanding, but were not included in the calculation of diluted earnings per share for the three and nine months ended September 30, 2014, respectively.

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



	Three Months Ended September 30,				Nine Months Ended September 30,
In millions, except per share amounts	2015		2014		2015		2014
Numerator for earnings per share calculations:
Income from continuing operations⁽¹⁾	$	1,230	$	944	$	3,711	$	3,310

Denominators for earnings per share calculations:
Weighted average shares, basic	1,114		1,157		1,122		1,167
Effect of dilutive securities	7		7		8		8
Weighted average shares, diluted	1,121		1,164		1,130		1,175

Earnings per share from continuing operations:
Basic	$	1.10	$	0.82	$	3.31	$	2.84
Diluted	$	1.10	$	0.81	$	3.28	$	2.82


(1)	Comprised of income from continuing operations less net income attributable to noncontrolling interest and amounts allocable to participating securities of $6 million and $4 million for the three months ended September 30, 2015 and 2014, respectively, and $18 million and $13 million for the nine months ended September 30, 2015 and 2014, respectively.