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Earnings Per Share
 9 Months Ended
Sep. 28, 2014
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE

The following is a reconciliation of basic net earnings per share to diluted net earnings per share for the fiscal third quarters ended September 28, 2014 and September 29, 2013:
 
 
Fiscal Third Quarters Ended
(Shares in Millions)
 
September 28, 2014
 
September 29, 2013
Basic net earnings per share
 
$
1.69

 
1.06

Average shares outstanding — basic
 
2,814.4

 
2,818.4

Potential shares exercisable under stock option plans
 
148.4

 
154.1

Less: shares which could be repurchased under treasury stock method
 
(101.2
)
 
(107.9
)
Convertible debt shares
 
2.7

 
3.0

Accelerated share repurchase program
 
—

 
13.6

Average shares outstanding — diluted
 
2,864.3

 
2,881.2

Diluted earnings per share
 
$
1.66

 
1.04



The diluted earnings per share calculation for both the fiscal third quarters ended September 28, 2014 and September 29, 2013 included the dilutive effect of convertible debt that was offset by the related reduction in interest expense.

The diluted earnings per share calculation for the fiscal third quarter ended September 29, 2013 included the dilutive effect of 13.6 million shares related to the accelerated share repurchase program, associated with the acquisition of Synthes, Inc.

The diluted earnings per share calculation for both the fiscal third quarters ended September 28, 2014 and September 29, 2013 included all shares related to stock options, as there were no options or other instruments which were anti-dilutive.

The following is a reconciliation of basic net earnings per share to diluted net earnings per share for the fiscal nine months ended September 28, 2014 and September 29, 2013:
 
 
 
 
 
 
 
Fiscal Nine Months Ended
(Shares in Millions)
 
September 28, 2014
 
September 29, 2013
Basic net earnings per share
 
$
4.89

 
3.68

Average shares outstanding — basic
 
2,822.0

 
2,805.6

Potential shares exercisable under stock option plans
 
148.8

 
154.7

Less: shares which could be repurchased under treasury stock method
 
(102.3
)
 
(110.4
)
Convertible debt shares
 
2.7

 
3.0

Accelerated share repurchase program
 
—

 
26.1

Average shares outstanding — diluted
 
2,871.2

 
2,879.0

Diluted earnings per share
 
$
4.81

 
3.58

 
 
 
 
 

The diluted earnings per share calculation for both the fiscal nine months ended September 28, 2014 and September 29, 2013 included the dilutive effect of convertible debt that was offset by the related reduction in interest expense.

The diluted earnings per share calculation for the fiscal nine months ended September 29, 2013 included the dilutive effect of 26.1 million shares related to the accelerated share repurchase program, associated with the acquisition of Synthes, Inc.

The diluted net earnings per share calculation for both the fiscal nine months ended September 28, 2014 and September 29, 2013 included all shares related to stock options, as there were no options or other instruments which were anti-dilutive.