Earnings per Share

12 Months Ended

Dec. 31, 2011

Earnings per Share disclosure

Earnings per Share disclosure [Text Block]

10. EARNINGS PER SHARE

        Basic earnings per share was computed by dividing income available to common shareholders by the weighted average number of common shares outstanding during the period. The computation of diluted earnings per share reflected the effect of potentially dilutive securities.

        The following is a reconciliation of the income and share data used in the basic and diluted earnings per share computations:

(for the year ended December 31, in millions, except per share amounts)	2011			2010			2009
Basic
Net income, as reported	$	1,426		$	3,216		$	3,622
Preferred stock dividends		(1	)		(3	)		(3	)
Participating share-based awards—allocated income		(11	)		(25	)		(26	)
Net income available to common shareholders—basic	$	1,414		$	3,188		$	3,593
Diluted
Net income available to common shareholders	$	1,414		$	3,188		$	3,593
Effect of dilutive securities:
Convertible preferred stock		1			3			3
Participating share-based awards—re-allocated income		—			2			2
Zero coupon convertible notes		—			—			1
Net income available to common shareholders—diluted	$	1,415		$	3,193		$	3,599
Common Shares
Basic
Weighted average shares outstanding		415.8			476.5			563.2
Diluted
Weighted average shares outstanding		415.8			476.5			563.2
Weighted average effects of dilutive securities:
Convertible preferred stock		0.7			1.8			2.0
Stock options and performance shares		4.0			4.2			3.0
Zero coupon convertible notes		—			—			0.4
Total		420.5			482.5			568.6
Net income Per Common Share
Basic	$	3.40		$	6.69		$	6.38
Diluted	$	3.36		$	6.62		$	6.33