EXHIBIT 11
COMPUTATION OF BASIC AND DILUTED
EARNINGS PER SHARE
(UNAUDITED)
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| For the Three Months Ended |
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|
| June 30, 2012 |
| June 30, 2011 |
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Number of shares on which basic earnings per share is calculated: |
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|
|
|
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Weighted-average shares outstanding during period |
| 1,149,039,441 |
| 1,204,827,774 |
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Add — Incremental shares under stock-based compensation plans |
| 10,888,916 |
| 14,179,393 |
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Add — Incremental shares associated with contingently issuable shares |
| 1,946,385 |
| 2,442,095 |
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Number of shares on which diluted earnings per share is calculated |
| 1,161,874,743 |
| 1,221,449,262 |
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|
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Net income on which basic earnings per share is calculated (millions) |
| $ | 3,881 |
| $ | 3,664 |
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|
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Less — net income applicable to contingently issuable shares (millions) |
| (1 | ) | 0 |
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|
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Net income on which diluted earnings per share is calculated (millions) |
| $ | 3,881 |
| $ | 3,664 |
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Earnings per share of common stock: |
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Assuming dilution |
| $ | 3.34 |
| $ | 3.00 |
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Basic |
| $ | 3.38 |
| $ | 3.04 |
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There were no stock options outstanding as of June 30, 2012 and 2011 that were considered antidilutive and not included in the earnings per share assuming dilution calculation.
|
| For the Six Months Ended |
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|
| June 30, 2012 |
| June 30, 2011 |
| ||
Number of shares on which basic earnings per share is calculated: |
|
|
|
|
| ||
Weighted-average shares outstanding during period |
| 1,154,065,962 |
| 1,213,490,709 |
| ||
Add — Incremental shares under stock compensation plans |
| 12,211,361 |
| 14,917,113 |
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Add — Incremental shares associated with contingently issuable shares |
| 1,782,030 |
| 2,331,031 |
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Number of shares on which diluted earnings per share is calculated |
| 1,168,059,353 |
| 1,230,738,853 |
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|
|
|
|
|
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Net income on which basic earnings per share is calculated (millions) |
| $ | 6,948 |
| $ | 6,526 |
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|
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|
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Less — net income applicable to contingently issuable shares (millions) |
| (1 | ) | 0 |
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|
|
|
|
|
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Net income on which diluted earnings per share is calculated (millions) |
| $ | 6,947 |
| $ | 6,526 |
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Earnings per share of common stock: |
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|
|
|
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|
|
|
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|
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Assuming dilution |
| $ | 5.95 |
| $ | 5.30 |
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Basic |
| $ | 6.02 |
| $ | 5.38 |
|
There were no stock options outstanding as of June 30, 2012 and 2011 that were considered antidilutive and not included in the earnings per share assuming dilution calculation.