Note 2. Net Income Per Common Share

Basic net income per common share attributable to Walmart is based on the weighted-average number of outstanding common shares. Diluted net income per common share attributable to Walmart is based on the weighted-average number of outstanding common shares adjusted for the dilutive effect of stock options and other share-based awards. The Company had approximately 4 million and 19 million stock options outstanding at July 31, 2011 and 2010, respectively, which were not included in the diluted net income per common share attributable to Walmart calculation because their effect would be antidilutive.

The following table provides a reconciliation of the numerators and denominators used to determine basic and diluted net income per common share from continuing operations attributable to Walmart:


	Three Months Ended July 31,						Six Months Ended July 31,
*(Amounts in millions, except per share data)*	2011			2010			2011			2010
Numerator
Income from continuing operations	$	3,937		$	3,747		$	7,515		$	7,191
Less consolidated net income attributable to noncontrolling interest		(136	)		(151	)		(287	)		(294	)

Income from continuing operations attributable to Walmart	$	3,801		$	3,596		$	7,228		$	6,897


Denominator
Weighted-average common shares outstanding, basic		3,472			3,696			3,486			3,730
Dilutive impact of stock-based awards		13			11			15			14

Weighted-average common shares outstanding, diluted		3,485			3,707			3,501			3,744


Net income per common share from continuing operations attributable to Walmart
Basic	$	1.09		$	0.97		$	2.07		$	1.85
Diluted	$	1.09		$	0.97		$	2.06		$	1.84