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EARNINGS PER SHARE
 6 Months Ended
Nov. 30, 2024
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
9.
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 employee stock purchase plan as applicable pursuant to the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share:

 

 

 

Three Months Ended
November 30,

 

 

Six Months Ended
November 30,

 

(in millions, except per share data)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Net income

 

$

3,151

 

 

$

2,503

 

 

$

6,080

 

 

$

4,923

 

Weighted-average common shares outstanding

 

 

2,790

 

 

 

2,746

 

 

 

2,775

 

 

 

2,737

 

Dilutive effect of employee stock plans

 

 

79

 

 

 

71

 

 

 

85

 

 

 

83

 

Dilutive weighted-average common shares outstanding

 

 

2,869

 

 

 

2,817

 

 

 

2,860

 

 

 

2,820

 

Basic earnings per share

 

$

1.13

 

 

$

0.91

 

 

$

2.19

 

 

$

1.80

 

Diluted earnings per share

 

$

1.10

 

 

$

0.89

 

 

$

2.13

 

 

$

1.75

 

Anti-dilutive stock awards excluded from calculation(1)

 

 

22

 

 

 

27

 

 

 

23

 

 

 

27

 

 

(1)
These stock awards primarily relate to contingently issuable shares pursuant to performance stock option arrangements. Such shares could be dilutive in the future.