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Earnings Per Share
 9 Months Ended
Sep. 30, 2019
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)
2019
2018
 
2019
2018
Net income
$
1,495

$
1,322

 
$
3,669

$
2,916

 
 
 
 
 
 
Basic weighted average shares outstanding
646

686

 
654

695

Dilutive effect of share-based awards
2

2

 
2

2

Diluted weighted average shares outstanding
648

688

 
656

697

 
 
 
 
 
 
Basic earnings per share
$
2.32

$
1.93

 
$
5.61

$
4.20

Diluted earnings per share
$
2.31

$
1.92

 
$
5.59

$
4.18