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Earnings Per Share
 6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE

We calculate basic earnings per share by dividing net income by the weighted average number of common shares outstanding, excluding restricted shares. We calculate diluted earnings per share by dividing net income by the weighted average number of common shares outstanding plus the dilutive effect of outstanding share-based awards, including stock options and restricted stock awards. Antidilutive common stock equivalents excluded from the diluted earnings per share calculation are not material. The following table shows the computation of basic and diluted earnings per share:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(in millions, except per share data)
2017
2016
 
2017
2016
Net income
$
1,224

$
1,546

 
$
1,827

$
2,492

 
 
 
 
 
 
Basic weighted average shares outstanding
728

758

 
728

766

Dilutive effect of share-based awards
3

5

 
3

6

Diluted weighted average shares outstanding
731

763

 
731

772

 
 
 
 
 
 
Basic earnings per share
$
1.68

$
2.04

 
$
2.51

$
3.25

Diluted earnings per share
$
1.68

$
2.03

 
$
2.50

$
3.23