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EARNINGS PER SHARE
 3 Months Ended
Aug. 31, 2021
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

10.

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

August 31,

 

(in millions, except per share data)

 

2021

 

 

2020

 

Net income

 

$

2,457

 

 

$

2,251

 

Weighted average common shares outstanding

 

 

2,769

 

 

 

3,041

 

Dilutive effect of employee stock plans

 

 

92

 

 

 

66

 

Dilutive weighted average common shares outstanding

 

 

2,861

 

 

 

3,107

 

Basic earnings per share

 

$

0.89

 

 

$

0.74

 

Diluted earnings per share

 

$

0.86

 

 

$

0.72

 

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

 

 

30

 

 

 

36

 

 

(1)

Substantially all of these weighted shares are related to contingently issuable shares related to PSO arrangements that could be dilutive in the future.