Earnings per share

6 Months Ended

Jun. 30, 2012

Earnings per share

10. Earnings per share

The following table presents the computation of basic and diluted earnings per share:

	Three Months Ended				Six Months Ended
	June 30				June 30
	2012		2011		2012		2011
	(in millions of U.S. dollars, except share and per share data)
Numerator:
Net income	$	328	$	594	$	1,301	$	844
Denominator for basic earnings per share:
Weighted-average shares outstanding		339,766,067		338,920,580		339,164,449		338,021,487
Denominator for diluted earnings per share:
Share-based compensation plans		2,907,971		2,768,388		3,006,950		2,596,909
Adjusted weighted-average shares outstanding and assumed conversions		342,674,038		341,688,968		342,171,399		340,618,396
Basic earnings per share	$	0.96	$	1.75	$	3.83	$	2.50
Diluted earnings per share	$	0.96	$	1.74	$	3.80	$	2.48

Excluded from adjusted weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective periods. For the three months ended June 30, 2012 and 2011, the potential anti-dilutive share conversions were 1,471,035 shares and 1,212 shares, respectively. The potential anti-dilutive share conversions for the six months ended June 30, 2012 and 2011 were 1,051,182 shares and 81,718 shares, respectively.