Earnings Per Share

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Note 3 — EarningsPer 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,
2014
Shareholders' net income	$	534			$	534
Shares (in thousands):
Weighted average		261,402				261,402
Common stock equivalents				4,489		4,489
Total shares		261,402		4,489		265,891
EPS	$	2.04	$	(0.03)	$	2.01
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

			Effect of
(Dollars in millions, except per share amounts)	Basic		Dilution		Diluted
Nine Months Ended September 30,
2014
Shareholders' net income	$	1,635			$	1,635
Shares (in thousands):
Weighted average		265,554				265,554
Common stock equivalents				4,507		4,507
Total shares		265,554		4,507		270,061
EPS	$	6.16	$	(0.11)	$	6.05
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

The followingoutstanding employee stock options were notincluded in the computation of diluted earnings per share for the three and ninemonths endedSeptember 30, 2014 and 2013 because their effect was anti-dilutive.

	Three Months Ended		Nine Months Ended
	September 30,		September 30,
(In millions)	2014	2013	2014	2013
Anti-dilutive options	-	0	1.3	1.2

The Company held 103,340,125shares of common stock in Treasury as of September 30, 2014, and 89,059,772 shares as of September 30, 2013.