Earnings per Share

12 Months Ended

Dec. 31, 2017

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,		2017		2016		2015
Net income		$	5,484	$	3,640	$	3,538
Weighted-average basic shares outstanding			753.6		776.0		800.7
Dilutive effect of stock-based compensation			3.7		3.2		4.4
Weighted-average diluted shares outstanding			757.3		779.2		805.1
Basic earnings per share		$	7.28	$	4.69	$	4.42
Diluted earnings per share		$	7.24	$	4.67	$	4.39
Units excluded from the calculation as their inclusion would not have a dilutive effect:
Stock options			0.4		1.2		0.8
Performance share units			0.1		0.2		-