Earnings Per Share

6 Months Ended

Jun. 30, 2024

The calculations of earnings (loss) per share are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
($ and shares in millions except per share amounts)	2024		2023		2024		2023
Net Income (Loss) Attributable to Merck & Co., Inc.	$	5,455	$	(5,975)	$	10,217	$	(3,154)
Average common shares outstanding	2,534		2,539		2,534		2,539
Common shares issuable (1)	10		—		10		—
Average common shares outstanding assuming dilution	2,544		2,539		2,544		2,539
Basic Earnings (Loss) per Common Share Attributable to Merck & Co., Inc. Common Shareholders	$	2.15	$	(2.35)	$	4.03	$	(1.24)
Earnings (Loss) per Common Share Assuming Dilution Attributable to Merck & Co., Inc. Common Shareholders	$	2.14	$	(2.35)	$	4.02	$	(1.24)

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

For the second quarter and first six months of 2024, 7 million and 5 million, respectively, of common shares issuable under share-based compensation plans were excluded from the computations of earnings per common share assuming dilution because the effect would have been antidilutive. The Company recorded a net loss for the three and six months ended June 30, 2023; therefore, no potential dilutive common shares were used in the computations of loss per common share assuming dilution because the effects would have been antidilutive.