Earnings Per Share of Common Stock

12 Months Ended

Dec. 31, 2015

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:			2015		2014		2013
Weighted-average number of shares on which earnings
	per share calculations are based
Basic				978,744,523		1,004,272,584		1,094,486,604
	Add—incremental shares under stock-based
		compensation plans		3,037,001		4,332,155		6,751,240
	Add—incremental shares associated with contingently
		issuable shares		918,744		1,395,741		1,804,313
Assuming dilution				982,700,267		1,010,000,480		1,103,042,156

Income from continuing operations			$	13,364	$	15,751	$	16,881
Loss from discontinued operations, net of tax				(174)		(3,729)		(398)
Net income on which basic earnings per share is
	calculated		$	13,190	$	12,022	$	16,483
Income from continuing operations			$	13,364	$	15,751	$	16,881
Net income applicable to contingently issuable shares				(1)		(3)		(1)
Income from continuing operations on which diluted
	earnings per share is calculated		$	13,363	$	15,749	$	16,880
Loss from discontinued operations, net of tax, on which
	basic and diluted earnings per share is calculated			(174)		(3,729)		(398)
Net income on which diluted earnings per share is
	calculated		$	13,189	$	12,020	$	16,483

Earnings/(loss) per share of common stock
	Assuming dilution
		Continuing operations	$	13.60	$	15.59	$	15.30
		Discontinued operations		(0.18)		(3.69)		(0.36)
		Total	$	13.42	$	11.90	$	14.94
	Basic
		Continuing operations	$	13.66	$	15.68	$	15.42
		Discontinued operations		(0.18)		(3.71)		(0.36)
		Total	$	13.48	$	11.97	$	15.06

Weighted-average stock options to purchase 41,380 common shares in 2015, 17,420 common shares in 2014 and 8,797 common shares in 2013 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.