Earnings Per Share

12 Months Ended

Dec. 31, 2015

Note 4 – Earnings Per Share

Basic and diluted earnings per share were computed as follows:

			Effect of
(Shares in thousands, dollars in millions, except per share amounts)	Basic		Dilution		Diluted
2015
Shareholders' net income	$	2,094	$	-	$	2,094
Shares
Weighted average		256,149		-		256,149
Common stock equivalents				4,443		4,443
Total shares		256,149		4,443		260,592
EPS	$	8.17	$	(0.13)	$	8.04
2014
Shareholders' net income	$	2,102	$	-	$	2,102
Shares
Weighted average		263,889		-		263,889
Common stock equivalents				4,714		4,714
Total shares		263,889		4,714		268,603
EPS	$	7.97	$	(0.14)	$	7.83
2013
Shareholders' net income	$	1,476	$	-	$	1,476
Shares
Weighted average		279,296		-		279,296
Common stock equivalents				5,389		5,389
Total shares		279,296		5,389		284,685
EPS	$	5.28	$	(0.10)	$	5.18

The following outstanding employee stock options were not included in the computation of diluted earnings per share because their effect was anti-dilutive.

(In millions)	2015	2014	2013
Anti-dilutive options	0.4	1.0	0.9