Earnings per Share

9 Months Ended

Sep. 30, 2023

The computations of basic and diluted earnings per share were as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
	(in millions, except per share amounts)
Numerator:
Net income	$	872	$	1,061	$	2,179	$	2,500

Denominator:
Basic: Weighted-average common shares outstanding	104.9		110.5		106.4		112.1
Effect of potentially dilutive nonqualified stock options and other share-based awards	2.2		2.2		2.1		2.3
Diluted: Weighted-average common shares outstanding	107.1		112.7		108.5		114.4

Earnings per share:
Basic	$	8.31	$	9.60	$	20.48	$	22.30
Diluted	$	8.14	$	9.41	$	20.08	$	21.85

The calculation of diluted earnings per share excludes the incremental effect of nil options for both the three months ended September 30, 2023 and 2022, and 0.2 million options for both the nine months ended September 30, 2023 and 2022, due to their anti-dilutive effect.