Earnings per share

12 Months Ended

Dec. 31, 2016

5 – Earnings per share

The following table provides a reconciliation between basic and diluted earnings per share

In millions, except per share data	Year ended December 31,		2016		2015		2014
Net income		$	3,640	$	3,538	$	3,167
Weighted-average basic shares outstanding			776.0		800.7		819.9
Dilutive effect of stock-based compensation			3.2		4.4		3.6
Weighted-average diluted shares outstanding			779.2		805.1		823.5
Basic earnings per share		$	4.69	$	4.42	$	3.86
Diluted earnings per share		$	4.67	$	4.39	$	3.85
Units excluded from the calculation as their inclusion would not have a dilutive effect:
Stock options			1.2		0.8		0.4
Performance share units			0.2		-		-