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Earnings per Share
 12 Months Ended
Dec. 31, 2016
Earnings per Share disclosure  
Earnings per Share disclosure [Text Block]

 

11.                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)

 

2016

 

2015

 

2014

 

Basic and Diluted

 

 

 

 

 

 

 

Net income, as reported

 

$

3,014

 

$

3,439

 

$

3,692

 

Participating share-based awards — allocated income

 

(22

)

(25

)

(27

)

Net income available to common shareholders — basic and diluted

 

$

2,992

 

$

3,414

 

$

3,665

 

 

 

 

 

 

 

 

 

Common Shares

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

Weighted average shares outstanding

 

288.1

 

310.6

 

338.8

 

 

 

 

 

 

 

 

 

Diluted

 

 

 

 

 

 

 

Weighted average shares outstanding

 

288.1

 

310.6

 

338.8

 

Weighted average effects of dilutive securities:

 

 

 

 

 

 

 

Stock options and performance shares

 

2.9

 

3.3

 

3.7

 

Total

 

291.0

 

313.9

 

342.5

 

 

 

 

 

 

 

 

 

Net income Per Common Share

 

 

 

 

 

 

 

Basic

 

$

10.39

 

$

10.99

 

$

10.82

 

Diluted

 

$

10.28

 

$

10.88

 

$

10.70