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Earnings Per Share
 6 Months Ended
Jul. 03, 2016
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 second quarters ended July 3, 2016 and June 28, 2015:
 
 
Fiscal Second Quarters Ended
(Shares in Millions)
 
July 3, 2016
 
June 28, 2015
Basic net earnings per share
 
$
1.46

 
1.63

Average shares outstanding — basic
 
2,745.4

 
2,772.3

Potential shares exercisable under stock option plans
 
146.3

 
151.4

Less: shares which could be repurchased under treasury stock method
 
(99.2
)
 
(113.9
)
Convertible debt shares
 
1.7

 
2.2

Average shares outstanding — diluted
 
2,794.2

 
2,812.0

Diluted net earnings per share
 
$
1.43

 
1.61



The diluted net earnings per share calculation for both the fiscal second quarters ended July 3, 2016 and June 28, 2015 included the dilutive effect of convertible debt that was offset by the related reduction in interest expense.

The diluted net earnings per share calculation for both the fiscal second quarters ended July 3, 2016 and June 28, 2015 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 six months ended July 3, 2016 and June 28, 2015:
 
 
 
 
 
 
 
Fiscal Six Months Ended
(Shares in Millions)
 
July 3, 2016
 
June 28, 2015
Basic net earnings per share
 
$
3.07

 
3.18

Average shares outstanding — basic
 
2,751.4

 
2,777.7

Potential shares exercisable under stock option plans
 
145.8

 
151.4

Less: shares which could be repurchased under treasury stock method
 
(98.0
)
 
(110.3
)
Convertible debt shares
 
1.7

 
2.2

Average shares outstanding — diluted
 
2,800.9

 
2,821.0

Diluted net earnings per share
 
$
3.02

 
3.13

 
 
 
 
 


The diluted net earnings per share calculation for both the fiscal six months ended July 3, 2016 and June 28, 2015 included the dilutive effect of convertible debt that was offset by the related reduction in interest expense.

The diluted net earnings per share calculation for both the fiscal six months ended July 3, 2016 and June 28, 2015 included all shares related to stock options, as there were no options or other instruments which were anti-dilutive.