Earnings Per Share
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Share

Note 3 – Earnings Per Share (“EPS”)

 

Basic and diluted earnings per share were computed as follows:

       

   Effect of   
(Shares in thousands, dollars in millions, except per share amounts)BasicDilutionDiluted
Three Months Ended March 31,      
2015      
Shareholders' net income $ 533  $ 533
Shares:      
Weighted average  256,707    256,707
Common stock equivalents    4,539  4,539
Total shares  256,707  4,539  261,246
EPS$ 2.08$(0.04)$ 2.04
       
2014      
Shareholders' net income $ 528  $ 528
Shares:      
Weighted average  269,979    269,979
Common stock equivalents    4,488  4,488
Total shares  269,979  4,488  274,467
EPS$ 1.96$ (0.04)$ 1.92

 

The following outstanding employee stock options were not included in the computation of diluted earnings per share for the three months ended March 31, 2015 and 2014 because their effect was anti-dilutive.

 

  Three Months Ended
  March 31,
(In millions) 20152014
Anti-dilutive options  1.4 -
    

 

The Company held 38,421,636 shares of common stock in Treasury as of March 31, 2015, and 97,428,469 shares as of March 31, 2014. In the fourth quarter of 2014, the Company retired 70 million shares of treasury stock.