Earnings per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Earnings per Share

15. Earnings per Share

The following table presents the calculation of basic and diluted earnings per share:

	Three Months Ended
	March 31,
(MILLIONS OF DOLLARS AND SHARES, EXCEPT PER SHARE DATA)	2020		2019
Numerator
Net income	$	423	$	312
Denominator
Weighted-average common shares outstanding	475.6		479.6
Common stock equivalents: stock options, RSUs, PSUs and DSUs	3.4		3.5
Weighted-average common and potential dilutive shares outstanding	479.0		483.1
Earnings per share —basic	$	0.89	$	0.65
Earnings per share —diluted	$	0.88	$	0.65

The number of stock options outstanding under the company's Equity Plan that were excluded from the computation of diluted earnings per share, as the effect would have been antidilutive, were de minimis for the three months ended March 31, 2020 and March 31, 2019, respectively.