XML 24 R12.htm IDEA: XBRL DOCUMENT v3.22.2.2
Earnings Per Share
9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The following table sets forth the calculation of basic and diluted earnings per share:

 BasicDiluted
 Third Quarter
 2022202120222021
($ in millions, except per share amounts,
shares in millions)
Net income$958 $753 $958 $753 
Dividend equivalent payments— (1)— — 
Income available to common stockholders$958 $752 $958 $753 
Weighted-average shares outstanding233.2 245.3 233.2 245.3 
Dilutive effect of outstanding options and share-settled awards  0.8 1.1 
Adjusted weighted-average shares outstanding  234.0 246.4 
Earnings per share$4.11 $3.07 $4.10 $3.06 
 BasicDiluted
 First Nine Months
 2022202120222021
($ in millions, except per share amounts,
shares in millions)
Net income$2,480 $2,245 $2,480 $2,245 
Dividend equivalent payments(1)(2)(1)— 
Income available to common stockholders$2,479 $2,243 $2,479 $2,245 
Weighted-average shares outstanding236.4 248.5 236.4 248.5 
Dilutive effect of outstanding options and share-settled awards  0.8 1.2 
Adjusted weighted-average shares outstanding 237.2 249.7 
Earnings per share$10.49 $9.03 $10.45 $8.99 
During the third quarters and first nine months of 2022 and 2021, dividend equivalent payments were made to certain holders of stock options and RSUs.  For purposes of computing basic earnings per share, dividend equivalent payments made to holders of stock options and RSUs were deducted from net income to determine income available to common stockholders. For purposes of computing diluted earnings per share, we evaluate on a grant-by-grant basis those stock options and RSUs receiving dividend equivalent payments under the two-class and treasury stock methods to determine which method is more dilutive for each grant. For those grants for which the two-class method was more dilutive, net income was reduced by dividend equivalent payments to determine income available to common stockholders. The dilution calculations exclude options having exercise prices exceeding the average market price of Common Stock as follows: 0.1 million in the third quarter and first nine months ended September 30, 2022 and none in the third quarter and first nine months ended September 30, 2021.