Earnings Per Common Share (EPS) (Tables)

9 Months Ended

Sep. 30, 2014

The computations of basic and diluted EPS were as follows:

			Three Months Ended				Nine Months Ended
			September 30,				September 30,
(Millions, except per share amounts)			2014			2013	2014			2013
Numerator:
	Basic and diluted:
		Net income	$	1,477	$	1,366	$	4,438	$	4,051
		Earnings allocated to participating share awards^(a)		(11)		(12)		(35)		(36)
		Net income attributable to common shareholders	$	1,466	$	1,354	$	4,403	$	4,015
Denominator:^(a)
	Basic: Weighted-average common stock			1,041		1,074		1,051		1,087
	Add: Weighted-average stock options ^(b)			6		7		6		7
	Diluted			1,047		1,081		1,057		1,094

Basic EPS			$	1.41	$	1.26	$	4.19	$	3.69
Diluted EPS			$	1.40	$	1.25	$	4.17	$	3.67

The Company’s unvested restricted stock awards, which include the right to receive non-forfeitable dividends or dividend equivalents, are considered participating securities. Calculations of EPS under the two-class method exclude from the numerator any dividends paid or owed on participating securities and any undistributed earnings considered to be attributable to participating securities. The related participating securities are similarly excluded from the denominator.
The dilutive effect of unexercised stock options excludes 0.2 million and 0.1 million of options from the computation of EPS for the three months ended September 30, 2014 and 2013, respectively, and 0.2 million options for both the nine months ended September 30, 2014 and 2013 because inclusion of the options would have been anti-dilutive.