Earnings Per Share of Common Stock

6 Months Ended

Jun. 30, 2019

Earnings Per Share of Common Stock

Earnings Per Share of Common Stock

16. Earnings Per Share of Common Stock:

The following tables provide the computation of basic and diluted earnings per share of common stock for the three and six months ended June 30, 2019 and 2018.

	For the Three Months Ended
	June 30, 2019		June 30, 2018
Number of shares on which basic earnings per share is calculated:
Weighted-average shares outstanding during period		886,273,682		915,064,434
Add — Incremental shares under stock-based compensation plans		3,281,570		2,882,043
Add — Incremental shares associated with contingently issuable shares		1,276,549		1,452,129
Number of shares on which diluted earnings per share is calculated		890,831,801		919,398,606
Income from continuing operations (millions)	$	2,499	$	2,402
Income/(loss) from discontinued operations, net of tax (millions)		(1)		1
Net income on which basic earnings per share is calculated (millions)	$	2,498	$	2,404
Income from continuing operations (millions)	$	2,499	$	2,402
Net income applicable to contingently issuable shares (millions)		0		(1)
Income from continuing operations on which diluted earnings per share is calculated (millions)	$	2,500	$	2,401
Income/(loss) from discontinued operations, net of tax, on which basic and diluted earnings per share is calculated (millions)		(1)		1
Net income on which diluted earnings per share is calculated (millions)	$	2,499	$	2,403
Earnings/(loss) per share of common stock:
Assuming dilution
Continuing operations	$	2.81	$	2.61
Discontinued operations		0.00		0.00
Total	$	2.81	$	2.61
Basic
Continuing operations	$	2.82	$	2.63
Discontinued operations		0.00		0.00
Total	$	2.82	$	2.63

Stock options to purchase 762,019 shares and 388,681 shares were outstanding as of June 30, 2019 and 2018, respectively, but were not included in the computation of diluted earnings per share because the options' exercise price during the respective period was greater than the average market price of the common shares, and, therefore, the effect would have been antidilutive.

	For the Six Months Ended
	June 30, 2019		June 30, 2018
Number of shares on which basic earnings per share is calculated:
Weighted-average shares outstanding during period		887,927,612		917,872,328
Add — Incremental shares under stock-based compensation plans		3,327,015		3,217,574
Add — Incremental shares associated with contingently issuable shares		1,116,537		1,314,118
Number of shares on which diluted earnings per share is calculated		892,371,164		922,404,020
Income from continuing operations (millions)	$	4,093	$	4,078
Income/(loss) from discontinued operations, net of tax (millions)		(4)		5
Net income on which basic earnings per share is calculated (millions)	$	4,089	$	4,083
Income from continuing operations (millions)	$	4,093	$	4,078
Net income applicable to contingently issuable shares (millions)		0		(1)
Income from continuing operations on which diluted earnings per share is calculated (millions)	$	4,093	$	4,077
Income/(loss) from discontinued operations, net of tax, on which basic and diluted earnings per share is calculated (millions)		(4)		5
Net income on which diluted earnings per share is calculated (millions)	$	4,090	$	4,082
Earnings/(loss) per share of common stock:
Assuming dilution
Continuing operations	$	4.58	$	4.42
Discontinued operations		0.00		0.01
Total	$	4.58	$	4.43
Basic
Continuing operations	$	4.61	$	4.44
Discontinued operations		0.00		0.01
Total	$	4.61	$	4.45

Stock options to purchase 949,519 shares and 202,775 shares (average of first and second quarter share amounts) were outstanding as of June 30, 2019 and 2018, respectively, but were not included in the computation of diluted earnings per share because the options' exercise price during the respective period was greater than the average market price of the common shares, and, therefore, the effect would have been antidilutive.