Earnings Per Common Share

9 Months Ended

Sep. 30, 2016

3. Earnings Per Common Share

The following table sets forth the computation of basic and diluted earnings per common share (EPS) (in millions, except share and per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
Basic EPS:
Net income	$	737	$	1,693	$	2,387	$	4,329
Weighted-average common shares outstanding (in thousands)		525,415		661,869		564,886		682,337

Basic EPS	$	1.40	$	2.56	$	4.23	$	6.34

Diluted EPS:
Net income for purposes of computing diluted EPS	$	737	$	1,693	$	2,387	$	4,329
Share computation for diluted EPS (in thousands):
Basic weighted average common shares outstanding		525,415		661,869		564,886		682,337
Dilutive effect of stock awards		3,095		18,870		3,793		19,423

Diluted weighted average common shares outstanding		528,510		680,739		568,679		701,760

Diluted EPS	$	1.40	$	2.49	$	4.20	$	6.17

The following were excluded from the calculation of diluted EPS (in thousands):
Stock options, stock appreciation rights and restricted stock unit awards because inclusion would be antidilutive		1,623		1,094		1,771		667