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EARNINGS PER SHARE
 9 Months Ended
Feb. 28, 2023
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

February 28,

 

 

Nine Months Ended

February 28,

 

(in millions, except per share data)

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Net income

 

$

1,896

 

 

$

2,319

 

 

$

5,184

 

 

$

3,528

 

Weighted average common shares outstanding

 

 

2,698

 

 

 

2,670

 

 

 

2,692

 

 

 

2,711

 

Dilutive effect of employee stock plans

 

 

78

 

 

 

84

 

 

 

65

 

 

 

89

 

Dilutive weighted average common shares outstanding

 

 

2,776

 

 

 

2,754

 

 

 

2,757

 

 

 

2,800

 

Basic earnings per share

 

$

0.70

 

 

$

0.87

 

 

$

1.93

 

 

$

1.30

 

Diluted earnings per share

 

$

0.68

 

 

$

0.84

 

 

$

1.88

 

 

$

1.26

 

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

 

 

33

 

 

 

33

 

 

 

56

 

 

 

32

 

 

(1)

These weighted shares relate to anti-dilutive restricted service based stock-based awards as calculated using the treasury stock method and contingently issuable shares pursuant to Performance Stock Options arrangements. Such shares could be dilutive in the future.