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Earnings Per Share
 9 Months Ended
Sep. 30, 2018
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 September 30,
 
Nine Months Ended September 30,
(in millions, except per share data)
2018
2017
 
2018
2017
Net income
$
1,312

$
1,159

 
$
2,884

$
2,907

 
 
 
 
 
 
Basic weighted average shares outstanding
686

716

 
695

724

Dilutive effect of share-based awards
2

3

 
2

3

Diluted weighted average shares outstanding
688

719

 
697

727

 
 
 
 
 
 
Basic earnings per share
$
1.91

$
1.62

 
$
4.15

$
4.01

Diluted earnings per share
$
1.91

$
1.61

 
$
4.14

$
4.00