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EARNINGS PER SHARE
 6 Months Ended
Nov. 30, 2019
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

11.

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)

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Net income

 

$

2,311

 

 

$

2,333

 

 

$

4,448

 

 

$

4,598

 

Weighted average common shares outstanding

 

 

3,245

 

 

 

3,720

 

 

 

3,281

 

 

 

3,812

 

Dilutive effect of employee stock plans

 

 

86

 

 

 

97

 

 

 

89

 

 

 

96

 

Dilutive weighted average common shares outstanding

 

 

3,331

 

 

 

3,817

 

 

 

3,370

 

 

 

3,908

 

Basic earnings per share

 

$

0.71

 

 

$

0.63

 

 

$

1.36

 

 

$

1.21

 

Diluted earnings per share

 

$

0.69

 

 

$

0.61

 

 

$

1.32

 

 

$

1.18

 

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

 

 

55

 

 

 

72

 

 

 

55

 

 

 

76

 

 

(1)

These weighted shares relate to anti-dilutive restricted service based stock‑based awards and stock options as calculated using the treasury stock method and contingently issuable shares under performance‑based stock option (PSO) and performance‑based restricted stock unit award (PSU) arrangements. Such shares could be dilutive in the future.