Note 8 - Earnings Per Share

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

8. Earnings Per Share

The following table provides a reconciliation between basic and diluted earnings per share:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
Millions	2022		2021		2022		2021
Net income	$	1,835	$	1,798	$	3,465	$	3,139
Weighted-average number of shares outstanding:
Basic		625.6		658.5		628.9		663.1
Dilutive effect of stock options		0.6		0.8		0.7		0.8
Dilutive effect of retention shares and units		0.6		0.8		0.6		0.8
Diluted		626.8		660.1		630.2		664.7
Earnings per share – basic	$	2.93	$	2.73	$	5.51	$	4.73
Earnings per share – diluted	$	2.93	$	2.72	$	5.50	$	4.72
Stock options excluded as their inclusion would be anti-dilutive		0.3		0.4		0.3		0.3