Net Income Per Share

12 Months Ended

Oct. 31, 2021


	Fiscal Year
	2021		2020		2019

	(In millions, except per share data)
Numerator:
Income from continuing operations	$	6,736	$	2,961	$	2,736
Dividends on preferred stock	(299)		(297)		(29)

Income from continuing operations attributable to common stock	6,437		2,664		2,707



Loss from discontinued operations, net of income taxes, attributable to common stock	—		(1)		(12)
Net income attributable to common stock	$	6,437	$	2,663	$	2,695




Denominator:
Weighted-average shares outstanding - basic	410		402		398
Dilutive effect of equity awards	19		19		21
Weighted-average shares outstanding - diluted	429		421		419

Basic income per share attributable to common stock:
Income per share from continuing operations	$	15.70	$	6.62	$	6.80
Loss per share from discontinued operations	—		—		(0.03)
Net income per share	$	15.70	$	6.62	$	6.77

Diluted income per share attributable to common stock:
Income per share from continuing operations	$	15.00	$	6.33	$	6.46
Loss per share from discontinued operations	—		—		(0.03)
Net income per share	$	15.00	$	6.33	$	6.43

For fiscal years 2021, 2020 and 2019, diluted net income per share excluded the potentially dilutive effect of 12 million, 12 million and 1 million shares of common stock, respectively, issuable upon the conversion of Mandatory Convertible Preferred Stock, as defined in Note 11. “Stockholders’ Equity,” as their effect was antidilutive.