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EARNINGS PER SHARE
 9 Months Ended
Feb. 28, 2022
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

February 28,

 

 

Nine Months Ended

February 28,

 

(in millions, except per share data)

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Net income

 

$

2,319

 

 

$

5,021

 

 

$

3,528

 

 

$

9,714

 

Weighted average common shares outstanding

 

 

2,670

 

 

 

2,913

 

 

 

2,711

 

 

 

2,977

 

Dilutive effect of employee stock plans

 

 

84

 

 

 

81

 

 

 

89

 

 

 

72

 

Dilutive weighted average common shares outstanding

 

 

2,754

 

 

 

2,994

 

 

 

2,800

 

 

 

3,049

 

Basic earnings per share

 

$

0.87

 

 

$

1.72

 

 

$

1.30

 

 

$

3.26

 

Diluted earnings per share

 

$

0.84

 

 

$

1.68

 

 

$

1.26

 

 

$

3.19

 

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

 

 

33

 

 

 

36

 

 

 

32

 

 

 

36

 

 

(1)

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