Earnings Per Share

12 Months Ended

Dec. 31, 2019

Note 14 – Earnings Per Share

The computation of basic and diluted earnings per share was as follows:


	Year Ended December 31,
(in millions, except shares and per share amounts)	2019		2018		2017

Net income	$	3,468	$	2,888	$	4,536
Less: Dividends on mandatory convertible preferred stock	—		—		(55)

Net income attributable to common stockholders - basic	3,468		2,888		4,481
Add: Dividends related to mandatory convertible preferred stock	—		—		55

Net income attributable to common stockholders	$	3,468	$	2,888	$	4,536


Weighted average shares outstanding - basic	854,143,751		849,744,152		831,850,073
Effect of dilutive securities:
Outstanding stock options and unvested stock awards	9,289,760		8,546,022		9,200,873
Mandatory convertible preferred stock	—		—		30,736,504

Weighted average shares outstanding - diluted	863,433,511		858,290,174		871,787,450

Earnings per share - basic	$	4.06	$	3.40	$	5.39
Earnings per share - diluted	$	4.02	$	3.36	$	5.20

Potentially dilutive securities:
Outstanding stock options and unvested stock awards	16,359		148,422		33,980

As of December 31, 2019, we had authorized 100 million shares of preferred stock, with a par value of $0.00001 per share. There was no preferred stock outstanding as of December 31, 2019 and 2018.

Potentially dilutive securities were not included in the computation of diluted earnings per share if to do so would have been anti-dilutive.