EXHIBIT 11
COMPUTATION OF BASIC AND DILUTED
EARNINGS PER SHARE
(UNAUDITED)
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| For the Three Months Ended | ||||
| September 30, 2013 |
| September 30, 2012 | ||
Number of shares on which basic earnings per share is calculated: |
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Weighted-average shares outstanding during period |
| 1,090,922,993 |
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| 1,137,210,659 |
Add – Incremental shares under stock-based compensation plans |
| 5,933,962 |
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| 9,926,347 |
Add – Incremental shares associated with contingently issuable shares |
| 1,921,024 |
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| 2,161,886 |
Number of shares on which diluted earnings per share is calculated |
| 1,098,777,979 |
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| 1,149,298,892 |
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Net income on which basic earnings per share is calculated (millions) | $ | 4,041 |
| $ | 3,824 |
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Less – net income applicable to contingently issuable shares (millions) |
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Net income on which diluted earnings per share is calculated (millions) | $ | 4,041 |
| $ | 3,824 |
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Earnings per share of common stock: |
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Assuming dilution | $ | 3.68 |
| $ | 3.33 |
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Basic | $ | 3.70 |
| $ | 3.36 |
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Stock options to purchase 3,187 shares were outstanding as of September 30, 2013, but were not included in the | |||||
computation of diluted earnings per share because the options' exercise price during the period was greater than the average | |||||
market price of the common shares, and, therefore, the effect would have been antidilutive. There were no stock options | |||||
outstanding as of September 30, 2012 that were considered antidilutive. |
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85
EXHIBIT 11
COMPUTATION OF BASIC AND DILUTED
EARNINGS PER SHARE
(UNAUDITED)
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| For the Nine Months Ended | |||||
| September 30, 2013 |
| September 30, 2012 | |||
Number of shares on which basic earnings per share is calculated: |
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Weighted-average shares outstanding during period |
| 1,101,830,931 |
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| 1,148,447,527 | |
Add – Incremental shares under stock compensation plans |
| 7,206,259 |
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| 11,449,689 | |
Add – Incremental shares associated with contingently issuable shares |
| 1,696,834 |
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| 1,908,649 | |
Number of shares on which diluted earnings per share is calculated |
| 1,110,734,023 |
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| 1,161,805,865 | |
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Net income on which basic earnings per share is calculated (millions) | $ | 10,299 |
| $ | 10,771 | |
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Less – net income applicable to contingently issuable shares (millions) |
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Net income on which diluted earnings per share is calculated (millions) | $ | 10,298 |
| $ | 10,771 | |
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Earnings per share of common stock: |
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Assuming dilution | $ | 9.27 |
| $ | 9.27 | |
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Basic | $ | 9.35 |
| $ | 9.38 | |
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Stock options to purchase 1,062 shares (average of first, second and third quarter share amounts) were outstanding as | ||||||
of September 30, 2013, but were not included in the computation of diluted earnings per share because the options' exercise | ||||||
price during the third quarter was greater than the average market price of the common shares, and, therefore, the effect | ||||||
would have been antidilutive. There were no stock options outstanding as of September 30, 2012 that were considered | ||||||
antidilutive. | ||||||
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86