(LOSS) EARNINGS PER SHARE

6 Months Ended

Nov. 30, 2021

10.	(LOSS) EARNINGS PER SHARE

Basic (loss) earnings per share is computed by dividing net (loss) income for the period by the weighted-average number of common shares outstanding during the period. Diluted (loss) earnings per share is computed by dividing net (loss) 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 should Oracle have net income for the particular reporting period. The following table sets forth the computation of basic and diluted (loss) earnings per share:

	Three Months Ended November 30,					Six Months Ended November 30,
(in millions, except per share data)	2021			2020		2021		2020
Net (loss) income	$	(1,247	)	$	2,442	$	1,209	$	4,693
Weighted average common shares outstanding		2,694			2,977		2,731		3,009
Dilutive effect of employee stock plans		—			69		92		67
Dilutive weighted average common shares outstanding		2,694			3,046		2,823		3,076
Basic (loss) earnings per share	$	(0.46	)	$	0.82	$	0.44	$	1.56
Diluted (loss) earnings per share	$	(0.46	)	$	0.80	$	0.43	$	1.53
Shares subject to anti-dilutive restricted stock-based awards and stock options excluded from calculation⁽¹⁾		121			36		31		36

⁽¹⁾

For the three months ended November 30, 2021, these weighted shares related to anti-dilutive restricted stock-based awards and stock options that are service-based (as calculated using the treasury stock method) and contingently issuable shares related to PSO arrangements, all of which could be dilutive in the future. For all other periods presented, substantially all of these weighted shares related to contingently issuable shares related to PSO arrangements that could be dilutive in the future.