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Earnings per Share
3 Months Ended
Mar. 31, 2012
Earnings per Share disclosure  
Earnings per Share disclosure [Text Block]

8.                                      EARNINGS PER SHARE

 

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

 

 

 

Three Months Ended
March 31,

 

(in millions, except per share amounts)

 

2012

 

2011

 

 

 

 

 

 

 

Basic

 

 

 

 

 

Net income, as reported

 

$

806

 

$

839

 

Participating share-based awards — allocated income

 

(6

)

(7

)

Preferred stock dividends

 

 

(1

)

 

 

 

 

 

 

Net income available to common shareholders — basic

 

$

 800

 

$

831

 

 

 

 

 

 

 

Diluted

 

 

 

 

 

Net income available to common shareholders

 

$

 800

 

$

831

 

Effect of dilutive securities:

 

 

 

 

 

Convertible preferred stock

 

 

1

 

 

 

 

 

 

 

Net income available to common shareholders — diluted

 

$

 800

 

$

832

 

 

 

 

 

 

 

Common Shares

 

 

 

 

 

Basic

 

 

 

 

 

Weighted average shares outstanding

 

392.0

 

428.2

 

 

 

 

 

 

 

Diluted

 

 

 

 

 

Weighted average shares outstanding

 

392.0

 

428.2

 

Weighted average effects of dilutive securities:

 

 

 

 

 

Stock options and performance shares

 

3.8

 

4.6

 

Convertible preferred stock

 

 

1.6

 

 

 

 

 

 

 

Total

 

395.8

 

434.4

 

 

 

 

 

 

 

Net Income per Common Share

 

 

 

 

 

Basic

 

$

2.04

 

$

1.94

 

 

 

 

 

 

 

Diluted

 

$

2.02

 

$

1.92