EX-11 3 a11-9215_1ex11.htm EX-11

EXHIBIT 11

 

COMPUTATION OF BASIC AND DILUTED

EARNINGS PER SHARE

(UNAUDITED)

 

 

 

For the Three Months Ended

 

 

 

March 31, 2011

 

March 31, 2010

 

Number of shares on which basic earnings per share is calculated:

 

 

 

 

 

Weighted-average shares outstanding during period

 

1,222,153,643

 

1,301,183,192

 

Add - incremental shares under stock-based compensation plans

 

15,654,835

 

18,654,457

 

Add - incremental shares associated with contingently issuable shares

 

2,219,966

 

1,794,631

 

Number of shares on which diluted earnings per share is calculated

 

1,240,028,445

 

1,321,632,281

 

 

 

 

 

 

 

Net income on which basic earnings per share is calculated (millions)

 

$

2,863

 

$

2,601

 

 

 

 

 

 

 

Less - net income applicable to contingently issuable shares (millions)

 

—

 

—

 

 

 

 

 

 

 

Net income on which diluted earnings per share is calculated (millions)

 

$

2,863

 

$

2,601

 

 

 

 

 

 

 

Earnings per share of common stock:

 

 

 

 

 

 

 

 

 

 

 

Assuming dilution

 

$

2.31

 

$

1.97

 

 

 

 

 

 

 

Basic

 

$

2.34

 

$

2.00

 

 

Stock options to purchase 73,998 shares were outstanding as of March 31, 2010, but were not included in the computation of diluted earnings per share because the options’ exercise price during that period was greater than the average market price of the common shares and, therefore, the effect would have been antidilutive.

 

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