| Impacts of All Adjustments Made to Financial Statements |
The impact of
all adjustments made to the financial statements presented is
summarized below (amounts in millions, except per share
data):
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2011 |
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2010 |
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2009 |
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Recognized Under
Previous Method |
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Recognized Under
New Method |
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Previously
Reported |
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Adjusted |
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Previously
Reported |
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Adjusted |
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Statements of
Consolidated Income:
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Operating
Expenses:
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Compensation and
benefits
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$ |
26,935 |
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$ |
27,575 |
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$ |
26,324 |
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$ |
26,557 |
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$ |
25.640 |
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$ |
25,933 |
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Operating Profit
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6,720 |
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6,080 |
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5,874 |
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5,641 |
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3,801 |
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3,508 |
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Income Before Income
Taxes
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6,416 |
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5,776 |
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5,523 |
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5,290 |
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3,366 |
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3,073 |
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Income Tax
Expense
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2,203 |
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1,972 |
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2,035 |
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1,952 |
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1,214 |
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1,105 |
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Net Income
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$ |
4,213 |
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$ |
3,804 |
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$ |
3,488 |
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$ |
3,338 |
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$ |
2,152 |
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$ |
1,968 |
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Per Share
Amounts:
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Basic Earnings Per
Share
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$ |
4.29 |
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$ |
3.88 |
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$ |
3.51 |
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$ |
3.36 |
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$ |
2.16 |
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$ |
1.97 |
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Diluted Earnings Per
Share
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$ |
4.25 |
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$ |
3.84 |
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$ |
3.48 |
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$ |
3.33 |
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$ |
2.14 |
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$ |
1.96 |
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Statements of
Consolidated Comprehensive Income:
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Net Income
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$ |
4,213 |
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$ |
3,804 |
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$ |
3,488 |
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$ |
3,338 |
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$ |
2,152 |
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$ |
1,968 |
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Change in Unrecognized
Pension and Postretirement Benefit Costs, Net of Tax
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(814 |
) |
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(405 |
) |
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(963 |
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(813 |
) |
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500 |
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684 |
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Consolidated Balance
Sheet:
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Accumulated Other
Comprehensive Income (Loss)
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$ |
(7,072 |
) |
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$ |
(3,103 |
) |
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$ |
(6,195 |
) |
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$ |
(2,635 |
) |
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$ |
(5,127 |
) |
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$ |
(1,717 |
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Retained
Earnings
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14,097 |
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10,128 |
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14,164 |
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10,604 |
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12,745 |
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9,335 |
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Statement of
Consolidated Cash Flows:
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Cash Flows From Operating
Activities:
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Net Income
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$ |
4,213 |
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$ |
3,804 |
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$ |
3,488 |
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$ |
3,338 |
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$ |
2,152 |
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$ |
1,968 |
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Pension and Postretirement
Benefit Expense
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1,020 |
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1,660 |
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903 |
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1,136 |
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872 |
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1,165 |
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Deferred Taxes, Credits and
Other
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|
472 |
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241 |
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1,002 |
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919 |
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471 |
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362 |
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