Earnings Per Share

9 Months Ended

Sep. 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 September 30,
2013
Shareholders' net income	$	553			$	553
Shares (in thousands):
Weighted average		278,054				278,054
Common stock equivalents				5,509		5,509
Total shares		278,054		5,509		283,563
EPS	$	1.99	$	(0.04)	$	1.95
2012
Shareholders' net income	$	466			$	466
Shares (in thousands):
Weighted average		284,891				284,891
Common stock equivalents				4,984		4,984
Total shares		284,891		4,984		289,875
EPS	$	1.64	$	(0.03)	$	1.61

			Effect of
(Dollars in millions, except per share amounts)	Basic		Dilution		Diluted
Nine Months Ended September 30,
2013
Shareholders' net income	$	1,115			$	1,115
Shares (in thousands):
Weighted average		281,279				281,279
Common stock equivalents				5,336		5,336
Total shares		281,279		5,336		286,615
EPS	$	3.96	$	(0.07)	$	3.89
2012
Shareholders' net income	$	1,217			$	1,217
Shares (in thousands):
Weighted average		285,247				285,247
Common stock equivalents				4,560		4,560
Total shares		285,247		4,560		289,807
EPS	$	4.27	$	(0.07)	$	4.20

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		Nine Months Ended
	September 30,		September 30,
(In millions)	2013	2012	2013	2012
Antidilutive options	-	3.9	1.2	3.4

The Company held 89,059,772shares of common stock in Treasury as of September 30, 2013, and 79,439,106shares as of September 30, 2012.