<Page> EXHIBIT 11 COMPUTATION OF BASIC AND DILUTED EARNINGS PER SHARE (UNAUDITED) <Table> <Caption> For The Three Months Ended ---------------------------------- March 31, 2003 March 31, 2002 --------------- --------------- Number of shares on which basic earnings per share is calculated: Average outstanding shares during period 1,725,338,543 1,718,412,093 Add - Incremental shares under stock compensation plans 27,711,303 31,998,707 Add - Incremental shares associated with convertible notes 4,764,543 - Add- Incremental shares associated with contingently issuable shares 679,175 2,549,701 --------------- --------------- Number of shares on which diluted earnings per share is calculated 1,758,493,564 1,752,960,501 =============== =============== Income from continuing operations applicable to common shareholders (millions) $ 1,387 $ 1,284 Loss from discontinued operations (millions) (3) (92) --------------- --------------- Net income from total operations on which basic earnings per share is calculated (millions) $ 1,384 $ 1,192 =============== =============== Income from continuing operations applicable to common shareholders (millions) $ 1,387 $ 1,284 Less - net income applicable to contingently issuable shares (millions) - 6 --------------- --------------- Income from continuing operations on which diluted earnings per share is calculated (millions) 1,387 1,278 Loss from discontinued operations on which basic and diluted earnings per share is calculated (millions) (3) (92) --------------- --------------- Net income from total operations on which diluted earnings per share is calculated (millions) $ 1,384 $ 1,186 =============== =============== </Table> -41- <Page> COMPUTATION OF BASIC AND DILUTED EARNINGS PER SHARE - (CONTINUED) (UNAUDITED) <Table> <Caption> For The Three Months Ended ---------------------------------- March 31, 2003 March 31, 2002 --------------- --------------- Earnings per share of common stock: Assuming dilution Continuing operations $ 0.79 $ 0.73 Discontinued operations (0.00) (0.05) --------------- --------------- Total $ 0.79 $ 0.68 =============== =============== Basic Continuing operations $ 0.80 $ 0.75 Discontinued operations (0.00) (0.05) --------------- --------------- Total $ 0.80 $ 0.69+ =============== =============== </Table> + Does not total due to rounding. Stock options to purchase 128,150,388 shares and 55,080,488 shares were outstanding as of March 31, 2003 and 2002, 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. -42-