Earnings Per Share Attributable to Macy's, Inc. Shareholders

The following table sets forth the computation of basic and diluted earnings per share attributable to Macy's, Inc. shareholders:



	2018					2017					2016
	Net Income				Shares	Net Income				Shares	Net Income				Shares
	(millions, except per share data)
Net income attributable to Macy's, Inc. shareholders and average number of shares outstanding	$	1,108			306.8	$	1,566			304.5	$	627			307.6
Shares to be issued under deferred compensation and other plans					0.9					0.9					0.9
	$	1,108			307.7	$	1,566			305.4	$	627			308.5
Basic earnings per share attributable to Macy's, Inc. shareholders			$	3.60				$	5.13				$	2.03
Effect of dilutive securities:
Stock options, restricted stock and restricted stock units					3.7					1.4					2.3
	$	1,108			311.4	$	1,566			306.8	$	627			310.8
Diluted earnings per share attributable to Macy's, Inc. shareholders			$	3.56				$	5.10				$	2.02

In addition to the stock options and restricted stock units reflected in the foregoing table, stock options to purchase 15.3 million shares of common stock and restricted stock units relating to 0.9 million shares of common stock were outstanding at February 2, 2019, stock options to purchase 16.6 million of shares of common stock and restricted stock units relating to 0.9 million shares of common stock were outstanding at February 3, 2018, and stock options to purchase 15.5 million of shares of common stock and restricted stock units relating to 1.1 million shares of common stock were outstanding at January 28, 2017, but were not included in the computation of diluted earnings per share attributable to Macy's, Inc. shareholders for 2018, 2017 and 2016, respectively, because their inclusion would have been antidilutive or they were subject to performance conditions that had not been met.