Basis of presentation and significant accounting policies and practices (Tables)

9 Months Ended

Sep. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Computation and reconciliation of earnings per common share are as follows (shares in millions):


	For Three Months Ended September 30,
	2020								2019
	Net Income		Shares	EPS		Net Income		Shares	EPS
Basic EPS:
Net income	$	1,353				$	1,425
Income allocated to RSUs	(6)					(9)
Income allocated to common stock	$	1,347	917	$	1.47	$	1,416	935	$	1.51
Dilutive effect of stock compensation plans			12					15

Diluted EPS:
Net income	$	1,353				$	1,425
Income allocated to RSUs	(6)					(8)
Income allocated to common stock	$	1,347	929	$	1.45	$	1,417	950	$	1.49

	For Nine Months Ended September 30,
	2020								2019
	Net Income		Shares	EPS		Net Income		Shares	EPS
Basic EPS:
Net income	$	3,907				$	3,947
Income allocated to RSUs	(19)					(25)
Income allocated to common stock	$	3,888	921	$	4.22	$	3,922	937	$	4.19
Dilutive effect of stock compensation plans			12					16

Diluted EPS:
Net income	$	3,907				$	3,947
Income allocated to RSUs	(19)					(25)
Income allocated to common stock	$	3,888	933	$	4.17	$	3,922	953	$	4.12

Accounting Standards Updates

We adopted the following Accounting Standards Updates (ASU) during the current period, none of which had a material impact on our financial position or results of operations.

ASU

Description

Adopted Date

ASU No. 2016-13

Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

January 1, 2020

ASU No. 2018-13

Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement

January 1, 2020

ASU No. 2018-15

Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract

January 1, 2020