Earnings per Share

12 Months Ended

Dec. 31, 2021

The calculations of earnings per share (shares in millions) are as follows:


Years Ended December 31	2021		2020		2019
Net Income from Continuing Operations Attributable to Merck & Co., Inc.	$	12,345	$	4,519	$	5,690
Income from Discontinued Operations, Net of Taxes and Amounts Attributable to Noncontrolling Interests	704		2,548		4,153
Net income attributable to Merck & Co., Inc.	$	13,049	$	7,067	$	9,843
Average common shares outstanding	2,530		2,530		2,565
Common shares issuable (1)	8		11		15
Average common shares outstanding assuming dilution	2,538		2,541		2,580
Basic Earnings per Common Share Attributable to Merck & Co., Inc. Common Shareholders:
Income from Continuing Operations	$	4.88	$	1.79	$	2.22
Income from Discontinued Operations	0.28		1.01		1.62
Net Income	$	5.16	$	2.79	$	3.84
Earnings per Common Share Assuming Dilution Attributable to Merck & Co., Inc. Common Shareholders:
Income from Continuing Operations	$	4.86	$	1.78	$	2.21
Income from Discontinued Operations	0.28		1.00		1.61
Net Income	$	5.14	$	2.78	$	3.81

(1) Issuable primarily under share-based compensation plans.

In 2021, 2020 and 2019, 9 million, 5 million and 2 million, respectively, of common shares issuable under share-based compensation plans were excluded from the computation of earnings per common share assuming dilution because the effect would have been antidilutive.