Net Income Per Share

12 Months Ended

Dec. 31, 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 presents the computation of basic and diluted net income per share (in millions, except per share amounts):


	Year Ended December 31,
	2021		2020		2019
Numerator:
Income from continuing operations	$	252	$	2,487	$	1,433
Income from discontinued operations, net of income taxes	13,356		3,180		353
Net income	$	13,608	$	5,667	$	1,786
Denominator:
Weighted average shares of common stock - basic	652		710		849
Dilutive effect of equity incentive awards	11		8		7
Weighted average shares of common stock - diluted	663		718		856
Income per share - basic:
Continuing operations	$	0.39	$	3.50	$	1.69
Discontinued operations	20.48		4.48		0.41
Net income per share - basic	$	20.87	$	7.98	$	2.10
Income per share - diluted:
Continuing operations	$	0.38	$	3.46	$	1.68
Discontinued operations	20.16		4.43		0.41
Net income per share - diluted	$	20.54	$	7.89	$	2.09
Common stock equivalents excluded from income per diluted share because their effect would have been anti-dilutive	1		5		18