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EARNINGS PER SHARE
 12 Months Ended
May 31, 2011
Notes to Condensed Consolidated Financial Statements  
EARNINGS PER SHARE

17.

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 stock options and restricted stock-based awards and shares issuable under the employee stock purchase plan using 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)

  

2011

 

  

2010

 

  

2009

 

Net income

  

$

8,547

  

  

$

6,135

  

  

$

5,593

  

 

  

 

 

 

  

 

 

 

  

 

 

 

Weighted average common shares outstanding

  

 

5,048

  

  

 

5,014

  

  

 

5,070

  

Dilutive effect of employee stock plans

  

 

80

  

  

 

59

  

  

 

60

  

 

  

 

 

 

  

 

 

 

  

 

 

 

Diluted weighted average common shares outstanding

  

 

5,128

  

  

 

5,073

  

  

 

5,130

  

 

  

 

 

 

  

 

 

 

  

 

 

 

Basic earnings per share

  

$

1.69

  

  

$

1.22

  

  

$

1.10

  

Diluted earnings per share

  

$

1.67

  

  

$

1.21

  

  

$

1.09

  

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

  

 

57

  

  

 

141

  

  

 

173

  

 

(1) 

These weighted shares relate to anti-dilutive stock options and restricted stock-based awards as calculated using the treasury stock method (described above) and could be dilutive in the future. See Note 14 for information regarding the exercise prices of our outstanding, unexercised options.