Computations of Profit Per Share

3 Months Ended

Mar. 31, 2012

Computations of Profit Per Share

Computations of Profit Per Share

11.Computations of Profit Per Share

		Three Months Ended March 31,
(Dollars in millions except per share data)		2012		2011
I.	Profit for the period (A)(1):	$	1,586	$	1,225
II.	Determination of shares (in millions):
	Weighted-average number of common shares outstanding (B)	650.0		641.4
	Shares issuable on exercise of stock awards, net of shares assumed to be purchased out of proceeds at average market price	20.2		23.5
	Average common shares outstanding for fully diluted computation (C)(2)	670.2		664.9
III.	Profit per share of common stock:
	Assuming no dilution (A/B)	$	2.44	$	1.91
	Assuming full dilution (A/C)(2)	$	2.37	$	1.84

(1) Profit attributable to common stockholders.

(2) Diluted by assumed exercise of stock-based compensation awards using the treasury stock method.

SARs and stock options to purchase 3,458,845 and 2,960,595 common shares were outstanding for the three months ended March 31, 2012 and 2011, respectively, but were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive.