<Page>
EXHIBIT 11
COMPUTATION OF BASIC AND DILUTED
EARNINGS PER SHARE
(UNAUDITED)
<Table>
<Caption>
For Three Months Ended
------------------------------------------
September 30, 2002 September 30, 2001*
------------------ ------------------
Number of shares on which basic
earnings per share is calculated:
Average outstanding shares during period 1,690,476,261 1,731,803,226
Add - Incremental shares under stock
compensation plans 19,139,766 33,463,198
Add - Incremental shares associated
with put options -- 14,818
Add- Incremental shares associated
with contingently issuable shares 2,110,159 2,585,941
--------------- ---------------
Number of shares on which diluted
earnings per share is calculated 1,711,726,186 1,767,867,183
=============== ===============
Income from continuing operations
applicable to common
shareholders (millions) $ 1,694 $ 1,713
Loss from discontinued
operations (millions) (381) (118)
--------------- ---------------
Net income from total operations
on which basic earnings per
share is calculated (millions) $ 1,313 $ 1,595
=============== ===============
Income from continuing operations
applicable to common
shareholders (millions) $ 1,694 $ 1,713
Less - net income applicable to
contingently issuable shares (millions) 4 7
--------------- ---------------
Income from continuing operations
on which diluted earnings per
share is calculated (millions) 1,690 1,706
Loss from discontinued operations
on which basic and diluted earnings per
share is calculated (millions) (381) (118)
--------------- ---------------
Net income from total operations
on which diluted earnings per
share is calculated (millions) $ 1,309 $ 1,588
=============== ===============
</Table>
* Reclassified to conform with 2002 presentation.
COMPUTATION OF BASIC AND DILUTED
EARNINGS PER SHARE - (CONTINUED)
(UNAUDITED)
<Table>
<Caption>
For Three Months Ended
------------------------------------------
September 30, 2002 September 30, 2001*
------------------ ------------------
Earnings per share of common stock:
Assuming dilution
Continuing operations $ 0.99 $ 0.97
Discontinued operations (0.22) (0.07)
--------- --------
Total $ 0.76+ $ 0.90
========= ========
Basic
Continuing operations $ 1.00 $ 0.99
Discontinued operations (0.23) (0.07)
--------- --------
Total $ 0.78+ $ 0.92
========= ========
</Table>
* Reclassified to conform with 2002 presentation.
+ Does not total due to rounding.
Stock options to purchase 130,926,306 shares and 95,617,180 shares were
outstanding as of September 30, 2002 and 2001, respectively, but were not
included in the computation of diluted earnings per share because the options'
exercise price during the respective periods was greater than the average market
price of the common shares and, therefore, the effect would have been
antidilutive.
<Page>
COMPUTATION OF BASIC AND DILUTED
EARNINGS PER SHARE - (CONTINUED)
(UNAUDITED)
<Table>
<Caption>
For Nine Months Ended
------------------------------------------
September 30, 2002 September 30, 2001*
------------------ ------------------
Number of shares on which basic
earnings per share is calculated:
Average outstanding shares during period 1,704,632,355 1,736,990,964
Add - Incremental shares under stock
compensation plans 24,805,173 36,931,206
Add - Incremental shares associated
with put options -- 12,638
Add- Incremental shares associated
with contingently issuable shares 2,264,731 1,702,963
--------------- ---------------
Number of shares on which diluted
earnings per share is calculated 1,731,702,259 1,775,637,771
=============== ===============
Income from continuing operations
applicable to common
shareholders (millions) $ 3,423 $ 5,571
Loss from discontinued operations
(millions) (862) (191)
--------------- ---------------
Net income from total operations
on which basic earnings per
share is calculated (millions) $ 2,561 $ 5,380
=============== ===============
Income from continuing operations
applicable to common
shareholders (millions) $ 3,423 $ 5,571
Less - net income applicable to
contingently issuable shares (millions) 18 4
--------------- ---------------
Income from continuing operations
on which diluted earnings per
share is calculated (millions) 3,405 5,567
Loss from discontinued operations
on which basic and diluted earnings per
share is calculated (millions) (862) (191)
--------------- ---------------
Net income from total operations
on which diluted earnings per
share is calculated (millions) $ 2,543 $ 5,376
=============== ===============
</Table>
* Reclassified to conform with 2002 presentation.
<Page>
COMPUTATION OF BASIC AND DILUTED
EARNINGS PER SHARE - (CONTINUED)
(UNAUDITED)
<Table>
<Caption>
For Nine Months Ended
------------------------------------------
September 30, 2002 September 30, 2001*
------------------ ------------------
Earnings per share of common stock:
Assuming dilution
Continuing operations $ 1.97 $ 3.14
Discontinued operations (0.50) (0.11)
------- -------
Total $ 1.47 $ 3.03
======= =======
Basic
Continuing operations $ 2.01 $ 3.21
Discontinued operations (0.51) (0.11)
------- -------
Total $ 1.50 $ 3.10
======= =======
</Table>
* Reclassified to conform with 2002 presentation.
Stock options to purchase 104,845,215 shares and 73,095,141 shares were
outstanding as of September 30, 2002 and 2001, respectively, but were not
included in the computation of diluted earnings per share because the options'
exercise price during the respective periods was greater than the average market
price of the common shares, and therefore, the effect would have been
antidilutive. Net income applicable to common shareholders excludes preferred
stock dividends of $10 million for the nine months ended September 30, 2001.