Earnings Per Share

9 Months Ended

Sep. 30, 2023

EARNINGS PER SHARE

The table below illustrates the reconciliation of the earnings and number of shares used in our calculations of basic and diluted earnings per share, the latter of which uses the treasury stock method to calculate the dilutive effect of the Company’s potential common stock:


	Three Months Ended				Nine Months Ended
(in millions, except per share amounts)	September 30, 2023		September 30, 2022		September 30, 2023		September 30, 2022
Computation of Basic Earnings Per Share
Net income	$	752	$	630	$	2,235	$	1,685
Shares for basic earnings per share	298.6		324.5		303.9		327.0
Basic earnings per share	$	2.52	$	1.94	$	7.36	$	5.15
Computation of Diluted Earnings Per Share
Net income	$	752	$	630	$	2,235	$	1,685
Shares for basic earnings per share	298.6		324.5		303.9		327.0
Effect of dilutive securities
Stock-based compensation	1.5		1.2		1.4		1.4
Shares for diluted earnings per share	300.1		325.7		305.3		328.4
Diluted earnings per share	$	2.51	$	1.94	$	7.32	$	5.13