NOTE 18
Earnings Per Common Share (EPS)
The computations of basic and diluted EPS for the years ended December 31 were as follows:
| (Millions, except per share amounts) | 2013 | 2012 | 2011 | ||||||||||
| Numerator: | |||||||||||||
| Basic and diluted: | |||||||||||||
| Income from continuing operations | $ | 5,359 | $ | 4,482 | $ | 4,899 | |||||||
| Earnings allocated to participating | |||||||||||||
| share awards(a) | (47) | (49) | (58) | ||||||||||
| Income from discontinued | |||||||||||||
| operations, net of tax | ― | ― | 36 | ||||||||||
| Net income attributable to common | |||||||||||||
| shareholders | $ | 5,312 | $ | 4,433 | $ | 4,877 | |||||||
| Denominator:(a) | |||||||||||||
| Basic: Weighted-average common stock | 1,082 | 1,135 | 1,178 | ||||||||||
| Add: Weighted-average stock options(b) | 7 | 6 | 6 | ||||||||||
| Diluted | 1,089 | 1,141 | 1,184 | ||||||||||
| Basic EPS: | |||||||||||||
| Income from continuing operations | |||||||||||||
| attributable to common shareholders | $ | 4.91 | $ | 3.91 | $ | 4.11 | |||||||
| Income from discontinued operations | ― | ― | 0.03 | ||||||||||
| Net income attributable to common | |||||||||||||
| shareholders | $ | 4.91 | $ | 3.91 | $ | 4.14 | |||||||
| Diluted EPS: | |||||||||||||
| Income from continuing operations | |||||||||||||
| attributable to common shareholders | $ | 4.88 | $ | 3.89 | $ | 4.09 | |||||||
| Income from discontinued operations | ― | ― | 0.03 | ||||||||||
| Net income attributable to common | |||||||||||||
| shareholders | $ | 4.88 | $ | 3.89 | $ | 4.12 | |||||||
For the years ended December 31, 2013, 2012 and 2011, the Company met specified performance measures related to the Subordinated Debentures of $750 million issued in 2006, which resulted in no impact to EPS. If the performance measures were not achieved in any given quarter, the Company would be required to issue common shares and apply the proceeds to make interest payments.