XML 36 R25.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
EARNINGS PER SHARE
 12 Months Ended
May 31, 2024
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
15.
EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income for the period by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income for the period by the weighted-average number of common shares outstanding during the period, plus the dilutive effect of outstanding restricted stock-based awards, stock options and shares issuable under the Purchase Plan as applicable pursuant to the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share:

 

 

 

Year Ended May 31,

 

(in millions, except per share data)

 

2024

 

 

2023

 

 

2022

 

Net income

 

$

10,467

 

 

$

8,503

 

 

$

6,717

 

Weighted-average common shares outstanding

 

 

2,744

 

 

 

2,696

 

 

 

2,700

 

Dilutive effect of employee stock plans

 

 

79

 

 

 

70

 

 

 

86

 

Dilutive weighted-average common shares outstanding

 

 

2,823

 

 

 

2,766

 

 

 

2,786

 

Basic earnings per share

 

$

3.82

 

 

$

3.15

 

 

$

2.49

 

Diluted earnings per share

 

$

3.71

 

 

$

3.07

 

 

$

2.41

 

Shares subject to anti-dilutive restricted stock-based awards and stock options excluded from calculation(1)

 

 

27

 

 

 

50

 

 

 

34

 

 

(1)
These weighted shares relate to anti-dilutive restricted service based stock-based awards as calculated using the treasury stock method and contingently issuable shares pursuant to PSOs arrangements. Such shares could be dilutive in the future. See Note 12 for information regarding the exercise prices of our outstanding, unexercised stock options.