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EARNINGS PER SHARE OF COMMON STOCK
 12 Months Ended
Dec. 31, 2016
EARNINGS PER SHARE OF COMMON STOCK  
EARNINGS PER SHARE OF COMMON STOCK

 

NOTE P. EARNINGS PER SHARE OF COMMON STOCK

 

The following table presents the computation of basic and diluted earnings per share of common stock.

 

($ in millions except per share amounts)

 

For the year ended December 31:

 

2016

 

2015

 

2014

 

Weighted-average number of shares on which earnings per share calculations are based

 

 

 

 

 

 

 

Basic

 
955,422,530

 
978,744,523

 
1,004,272,584

 

Add—incremental shares under stock-based compensation plans

 
2,416,940

 
3,037,001

 
4,332,155

 

Add—incremental shares associated with contingently issuable shares

 
874,626

 
918,744

 
1,395,741

 

 

 

 

 

 

 

 

 

Assuming dilution

 
958,714,097

 
982,700,267

 
1,010,000,480

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$
11,881

 

$
13,364

 

$
15,751

 

Loss from discontinued operations, net of tax

 
(9

)
(174

)
(3,729

)

 

 

 

 

 

 

 

 

Net income on which basic earnings per share is calculated

 

$
11,872

 

$
13,190

 

$
12,022

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$
11,881

 

$
13,364

 

$
15,751

 

Net income applicable to contingently issuable shares

 
0

 
(1

)
(3

)

Income from continuing operations on which diluted earnings per share is calculated

 

$
11,881

 

$
13,363

 

$
15,749

 

Loss from discontinued operations, net of tax, on which basic and diluted earnings per share is calculated

 
(9

)
(174

)
(3,729

)

 

 

 

 

 

 

 

 

Net income on which diluted earnings per share is calculated

 

$
11,872

 

$
13,189

 

$
12,020

 

 

 

 

 

 

 

 

 

 

 

 

Earnings/(loss) per share of common stock

 

 

 

 

 

 

 

Assuming dilution

 

 

 

 

 

 

 

Continuing operations

 

$
12.39

 

$
13.60

 

$
15.59

 

Discontinued operations

 
(0.01

)
(0.18

)
(3.69

)

 

 

 

 

 

 

 

 

Total

 

$
12.38

 

$
13.42

 

$
11.90

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

Continuing operations

 

$
12.44

 

$
13.66

 

$
15.68

 

Discontinued operations

 
(0.01

)
(0.18

)
(3.71

)

 

 

 

 

 

 

 

 

Total

 

$
12.43

 

$
13.48

 

$
11.97

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average stock options to purchase 405,552 common shares in 2016, 41,380 common shares in 2015 and 17,420 common shares in 2014 were outstanding, but were not included in the computation of diluted earnings per share because the exercise price of the options was greater than the average market price of the common shares for the full year, and therefore, the effect would have been antidilutive.