Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Note 4 — Earnings Per Share (“EPS”)

Basic and diluted earnings per share were computed as follows:

			Effect of
(Dollars in millions, except per share amounts)	Basic		Dilution		Diluted
Three Months Ended June 30,
2013
Shareholders' net income	$	505			$	505
Shares (in thousands):
Weighted average		282,043				282,043
Common stock equivalents				5,043		5,043
Total shares		282,043		5,043		287,086
EPS	$	1.79	$	(0.03)	$	1.76
2012
Shareholders' net income	$	380			$	380
Shares (in thousands):
Weighted average		285,690				285,690
Common stock equivalents				4,857		4,857
Total shares		285,690		4,857		290,547
EPS	$	1.33	$	(0.02)	$	1.31

			Effect of
(Dollars in millions, except per share amounts)	Basic		Dilution		Diluted
Six Months Ended June 30,
2013
Shareholders' net income	$	562			$	562
Shares (in thousands):
Weighted average		282,919				282,919
Common stock equivalents				5,248		5,248
Total shares		282,919		5,248		288,167
EPS	$	1.99	$	(0.04)	$	1.95
2012
Shareholders' net income	$	751			$	751
Shares (in thousands):
Weighted average		285,425				285,425
Common stock equivalents				4,348		4,348
Total shares		285,425		4,348		289,773
EPS	$	2.63	$	(0.04)	$	2.59

The following outstanding employee stock options were not included in the computation of diluted earnings per share because their effect would have increased diluted earnings per share (antidilutive).

	Three Months Ended		Six Months Ended
	June 30,		June 30,
(In millions)	2013	2012	2013	2012
Antidilutive options	1.8	2.4	1.8	3.1

The Company held 82,496,367shares of common stock in Treasury as of June 30, 2013, and 77,780,090shares as of June 30, 2012.