| Computation of Basic and Diluted Earnings Per Share |
Basic and diluted earnings per share were computed as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | | | | | | | September 30, 2024 | | September 30, 2023 | | | | (Shares in thousands, dollars in millions, except per share amounts) | Basic | | Effect of Dilution | | Diluted | | Basic | | Effect of Dilution | | Diluted | | | | | | | | Shareholders' net income | $ | 739 | | | | | $ | 739 | | | $ | 1,408 | | | | | $ | 1,408 | | | | | | | | | Shares: | | | | | | | | | | | | | | | | | | | Weighted average | 278,457 | | | | | 278,457 | | | 294,058 | | | | | 294,058 | | | | | | | | | Common stock equivalents | | | 2,939 | | | 2,939 | | | | | 3,073 | | | 3,073 | | | | | | | | | Total shares | 278,457 | | | 2,939 | | | 281,396 | | | 294,058 | | | 3,073 | | | 297,131 | | | | | | | | | Earnings per share | $ | 2.65 | | | $ | (0.02) | | | $ | 2.63 | | | $ | 4.79 | | | $ | (0.05) | | | $ | 4.74 | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Nine Months Ended | | | | | | | | September 30, 2024 | | September 30, 2023 | | | | | | | | | | | | | | | | (Shares in thousands, dollars in millions, except per share amounts) | Basic | | Effect of Dilution | | Diluted | | Basic | | Effect of Dilution | | Diluted | | | | | | | Shareholders' net income | $ | 2,010 | | | | | $ | 2,010 | | | $ | 4,135 | | | | | $ | 4,135 | | | | | | | | | Shares: | | | | | | | | | | | | | | | | | | | Weighted average | 282,005 | | | | | 282,005 | | | 294,752 | | | | | 294,752 | | | | | | | | | Common stock equivalents | | | 3,037 | | | 3,037 | | | | | 2,911 | | | 2,911 | | | | | | | | | Total shares | 282,005 | | | 3,037 | | | 285,042 | | | 294,752 | | | 2,911 | | | 297,663 | | | | | | | | | Earnings per share | $ | 7.13 | | | $ | (0.08) | | | $ | 7.05 | | | $ | 14.03 | | | $ | (0.14) | | | $ | 13.89 | | | | | | | |
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