Computation of Basic/Diluted Earnings Per Common Share

6 Months Ended

Jun. 30, 2020

Computation of Basic/Diluted Earnings Per Common Share

The following table sets forth the computation of basic and diluted earnings per common share (amounts in millions, except per share data):


	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2020		2019		2020		2019
Numerator:
Consolidated net income	$	580	$	328	$	1,084	$	774
Denominator:
Denominator for basic earnings per common share—weighted-average common shares outstanding	771		766		770		765
Effect of potential dilutive common shares under the treasury stock method—employee stock options and awards	5		4		5		5
Denominator for basic earnings per common share—weighted-average dilutive common shares outstanding	776		770		775		770

Basic earnings per common share	$	0.75	$	0.43	$	1.41	$	1.01
Diluted earnings per common share	$	0.75	$	0.43	$	1.40	$	1.01

The vesting of certain of our employee-related restricted stock units and options is contingent upon the satisfaction of pre-defined performance measures. The shares underlying these equity awards are included in the weighted-average dilutive common shares only if the performance measures are met as of the end of the reporting period. Additionally, potential common shares are not included in the denominator of the diluted earnings per common share calculation when the inclusion of such shares would be anti-dilutive.

Weighted-average shares excluded from the computation of diluted earnings per share were as follows (amounts in millions):


	For the Three Months Ended June 30,			For the Six Months Ended June 30,
	2020	2019	2020	2019
Restricted stock units and options with performance measures not yet met	4	4	3	3
Anti-dilutive employee stock options	1	6	3	6