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Profit per share (Tables)
 12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Computations of Profit Per Share
Computations of profit per share:
 
 
 
 
 
 
(Dollars in millions except per share data)
 
2019
 
2018
 
2017
Profit for the period (A) 1 
 
$
6,093

 
$
6,147

 
$
754

Determination of shares (in millions):
 
 

 
 

 
 

Weighted average number of common shares outstanding (B)
 
561.6

 
591.4

 
591.8

Shares issuable on exercise of stock awards, net of shares assumed to be purchased out of proceeds at average market price
 
5.9

 
8.0

 
7.5

Average common shares outstanding for fully diluted computation (C) 2
 
567.5

 
599.4

 
599.3

Profit per share of common stock:
 
 

 
 

 
 

Assuming no dilution (A/B)
 
$
10.85

 
$
10.39

 
$
1.27

Assuming full dilution (A/C) 2
 
$
10.74

 
$
10.26

 
$
1.26

Shares outstanding as of December 31 (in millions)
 
550.1

 
575.5

 
597.6

1 
Profit attributable to common shareholders.
2 
Diluted by assumed exercise of stock-based compensation awards using the treasury stock method.