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Earnings Per Share
12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
 
The following table sets forth the calculation of basic and diluted earnings per share:
 
 
Basic
 
Diluted
 
2015
 
2014
 
2013
 
2015
 
2014
 
2013
 
($ in millions except per share amounts, shares in millions)
 
 
 
 
 
 
 
 
 
 
 
 
Net income
$
1,556

 
$
2,000

 
$
1,910

 
$
1,556

 
$
2,000

 
$
1,910

Dividend equivalent payments
(6
)
 
(6
)
 
(7
)
 
(5
)
 
(4
)
 
(4
)
 
 
 
 
 
 
 
 
 
 
 
 
Income available to common stockholders
$
1,550

 
$
1,994

 
$
1,903

 
$
1,551

 
$
1,996

 
$
1,906

 
 
 
 
 
 
 
 
 
 
 
 
Weighted-average shares outstanding
301.9

 
309.4

 
311.9

 
301.9

 
309.4

 
311.9

Dilutive effect of outstanding options
 

 
 

 
 

 
 

 
 

 
 

and share-settled awards
 

 
 

 
 

 
2.5

 
3.1

 
3.6

Adjusted weighted-average shares outstanding
 

 
 

 
 

 
304.4

 
312.5

 
315.5

 
 
 
 
 
 
 
 
 
 
 
 
Earnings per share
$
5.13

 
$
6.44

 
$
6.10

 
$
5.10

 
$
6.39

 
$
6.04


 
In each year, dividend equivalent payments were made to holders of stock options and RSUs.  For purposes of computing basic earnings per share, dividend equivalent payments made to holders of stock options and RSUs were deducted from net income to determine income available to common stockholders.  For purposes of computing diluted earnings per share, we evaluate on a grant-by-grant basis those stock options and RSUs receiving dividend equivalent payments under the two-class and treasury stock methods to determine which method is the more dilutive for each grant.  For those grants for which the two-class method was more dilutive, net income was reduced by dividend equivalent payments to determine income available to common stockholders.  The dilution calculations exclude options having exercise prices exceeding the average market price of Common Stock as follows: 

Period
 
2015
 
2014
 
2013
 
 
 
(in millions)
 
1st Quarter
 

 
0.7

 
0.8

 
2nd Quarter
 
0.7

 

 

 
3rd Quarter
 
1.5

 

 
0.8

 
4th Quarter
 
1.5