Net Income Per Share

6 Months Ended

Jun. 30, 2021

Basic net income per share is computed by dividing net income for the period by the weighted average number of common shares outstanding during the period. Diluted net income per share is computed by dividing net income for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding during the period. The dilutive effect of outstanding options and equity incentive awards is reflected in diluted net income per share by application of the treasury stock method. The calculation of diluted net income per share excludes all anti-dilutive common shares. The following table sets forth the computation of basic and diluted net income per share for the three and six months ended June 30, 2021 and 2020 (in millions, except per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Numerator:
Income from continuing operations	$	294	$	689	$	862	$	1,110
Income from discontinued operations, net of income taxes	10,440		57		10,513		3,048
Net income	$	10,734	$	746	$	11,375	$	4,158
Denominator:
Weighted average shares of common stock - basic	674		703		678		728
Dilutive effect of equity incentive awards	11		8		11		6
Weighted average shares of common stock - diluted	685		711		689		734


Income per share - basic:
Continuing operations	$	0.44	$	0.98	$	1.27	$	1.53
Discontinued operations	15.48		0.08		15.52		4.18
Net income per share - basic	$	15.92	$	1.06	$	16.79	$	5.71
Income per share - diluted:
Continuing operations	$	0.43	$	0.97	$	1.25	$	1.51
Discontinued operations	15.25		0.08		15.27		4.16
Net income per share - diluted	$	15.68	$	1.05	$	16.52	$	5.67
Common stock equivalents excluded from income per diluted share because their effect would have been anti-dilutive	8		1		9		6