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Earnings per Share
9 Months Ended
Sep. 30, 2014
Earnings per Share disclosure  
Earnings per Share disclosure [Text Block]

8.                       EARNINGS PER SHARE

 

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

 

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

(in millions, except per share amounts)

 

2014

 

2013

 

2014

 

2013

 

 

 

 

 

 

 

 

 

 

 

Basic and Diluted

 

 

 

 

 

 

 

 

 

Net income, as reported

 

$

919

 

$

864

 

$

2,654

 

$

2,685

 

Participating share-based awards — allocated income

 

(7

)

(6

)

(19

)

(20

)

 

 

 

 

 

 

 

 

 

 

Net income available to common shareholders — basic and diluted

 

$

912

 

$

858

 

$

2,635

 

$

2,665

 

 

 

 

 

 

 

 

 

 

 

Common Shares

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding

 

335.1

 

368.9

 

342.9

 

374.1

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding

 

335.1

 

368.9

 

342.9

 

374.1

 

Weighted average effects of dilutive securities — stock options and performance shares

 

3.8

 

4.0

 

3.6

 

4.0

 

 

 

 

 

 

 

 

 

 

 

Total

 

338.9

 

372.9

 

346.5

 

378.1

 

 

 

 

 

 

 

 

 

 

 

Net Income per Common Share

 

 

 

 

 

 

 

 

 

Basic

 

$

2.72

 

$

2.33

 

$

7.68

 

$

7.12

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

$

2.69

 

$

2.30

 

$

7.60

 

$

7.05