Earnings Per Share, Share Repurchases and Dividends on Common Stock (Unaudited) Earnings Per Share, Share Repurchases and Dividends on Common Stock (Notes)

6 Months Ended

Jun. 30, 2013

Equity [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

EARNINGS PER SHARE, SHARE REPURCHASES AND DIVIDENDS ON COMMON STOCK

Basic Earnings Per Share

We calculate basic earnings per share by dividing net earnings by the weighted-average number of shares of common stock outstanding during each period.

Diluted Earnings Per Share

Diluted earnings per share includes the dilutive effect of awards granted to employees under stock-based compensation plans. The dilutive effect of these securities totaled 3.5 million shares and 4.0 million shares for the three and six months ended June 30, 2013, respectively. The dilutive effect of these securities totaled 3.9 million shares and 4.5 million shares for the three and six months ended June 30, 2012, respectively. The weighted-average diluted shares outstanding excludes anti-dilutive stock options because such options have exercise prices in excess of the average market price of the company’s common stock during the period. We had no anti-dilutive shares outstanding for the three months ended June 30, 2013, and 0.7 million anti-dilutive shares outstanding for the six months ended June 30, 2013. The weighted-average diluted shares outstanding for the three and six months ended June 30, 2012, exclude anti-dilutive stock options to purchase approximately 2.8 million shares in both periods.

Share Repurchases

The table below summarizes the company’s share repurchases:

						Shares Repurchased (in millions)
Repurchase Program Authorization Date	Amount Authorized (in millions)		Total Shares Retired (in millions)	Average  Price Per Share(3)		Six Months Ended June 30
						2013	2012
June 16, 2010(1)		$5,350	77.6		$61.64	12.6	9.3
May 15, 2013(2)		$4,000	—	—		—	—

(1) On June 16, 2010, the company's board of directors authorized a share repurchase program of up to $2.0 billion of the company’s common stock. Following this initial authorization, the board of directors increased the remaining repurchase authorization to $4.0 billion in April 2011. After further repurchases reduced the remaining authorization to less than $1 billion, the board of directors again increased the remaining authorization to $2.0 billion in September 2012 ("2010 Repurchase Program"). As of June 30, 2013, our repurchases under the program totaled $4.8 billion, and $557 million remained under the 2010 Repurchase Program. The 2010 Repurchase Program will expire when we have used all authorized funds for repurchase.

(2) On May 15, 2013, the company's board of directors authorized a new share repurchase program of up to $4.0 billion of the company’s common stock ("2013 Repurchase Program"). Repurchases under the 2013 Repurchase Program will commence upon completion of the 2010 Repurchase Program. The 2013 Repurchase Program will expire when we have used all authorized funds for repurchase.

(3) Includes commissions paid.

Share repurchases take place from time to time, subject to market conditions and management's discretion, in the open market or in privately negotiated transactions. The company retires its common stock upon repurchase and has not made any purchases of common stock other than in connection with these publicly announced repurchase program authorizations.

Dividends on Common Stock

In May 2013, the company increased the quarterly common stock dividend 11 percent to $0.61 per share from the previous amount of $0.55 per share.

In May 2012, the company increased the quarterly common stock dividend 10 percent to $0.55 per share from the previous amount of $0.50 per share.