Basis of presentation and significant accounting policies and practices (Tables)

6 Months Ended

Jun. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Computation and reconciliation of earnings per common share are as follows (shares in millions):


	For Three Months Ended June 30,
	2020								2019
	Net Income		Shares	EPS		Net Income		Shares	EPS
Basic EPS:
Net income	$	1,380				$	1,305
Income allocated to RSUs	(7)					(9)
Income allocated to common stock	$	1,373	916	$	1.50	$	1,296	937	$	1.38
Dilutive effect of stock compensation plans			11					16

Diluted EPS:
Net income	$	1,380				$	1,305
Income allocated to RSUs	(7)					(8)
Income allocated to common stock	$	1,373	927	$	1.48	$	1,297	953	$	1.36

	For Six Months Ended June 30,
	2020								2019
	Net Income		Shares	EPS		Net Income		Shares	EPS
Basic EPS:
Net income	$	2,554				$	2,522
Income allocated to RSUs	(13)					(17)
Income allocated to common stock	$	2,541	923	$	2.75	$	2,505	938	$	2.67
Dilutive effect of stock compensation plans			12					16

Diluted EPS:
Net income	$	2,554				$	2,522
Income allocated to RSUs	(13)					(16)
Income allocated to common stock	$	2,541	935	$	2.72	$	2,506	954	$	2.63

Accounting Standards Updates

We adopted the following Accounting Standards Updates (ASU) during the current period, none of which had a material impact on our financial position or results of operations.

ASU

Description

Adopted Date

ASU No. 2016-13

Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

January 1, 2020

ASU No. 2018-13

Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement

January 1, 2020

ASU No. 2018-15

Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract

January 1, 2020