Earnings Per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Note 3 — 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 March 31,
2014
Shareholders' net income	$	528			$	528
Shares (in thousands):
Weighted average		269,979				269,979
Common stock equivalents				4,488		4,488
Total shares		269,979		4,488		274,467
EPS	$	1.96	$	(0.04)	$	1.92
2013
Shareholders' net income	$	57			$	57
Shares (in thousands):
Weighted average		283,804				283,804
Common stock equivalents				5,454		5,454
Total shares		283,804		5,454		289,258
EPS	$	0.20	$	-	$	0.20

All outstanding employee stock options were included in the computation of diluted earnings per share for the three months ended March 31, 2014 and 2013.

The Company held 97,428,469shares of common stock in Treasury as of March 31, 2014, and 80,302,892 shares as of March 31, 2013.