Net Income per Share

3 Months Ended

Oct. 30, 2021

The following table presents the calculation of basic and diluted net income per share (in millions, except per-share amounts):


	Three Months Ended
	October 30, 2021		October 24, 2020
Net income	$	2,980	$	2,174
Weighted-average shares—basic	4,218		4,230
Effect of dilutive potential common shares	25		14
Weighted-average shares—diluted	4,243		4,244
Net income per share—basic	$	0.71	$	0.51
Net income per share—diluted	$	0.70	$	0.51
Antidilutive employee share-based awards, excluded	12		35

Employee equity share options, unvested shares, and similar equity instruments granted and assumed by us are treated as potential common shares outstanding in computing diluted earnings per share. Diluted shares outstanding include the dilutive effect of in-the-money options, unvested restricted stock, and restricted stock units. The dilutive effect of such equity awards is calculated based on the average share price for each fiscal period using the treasury stock method. Under the treasury stock method, the amount the employee must pay for exercising stock options and the amount of compensation cost for future service that has not yet been recognized are collectively assumed to be used to repurchase shares.