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Earnings Per Share
 12 Months Ended
Jan. 01, 2017
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 years ended January 1, 2017, January 3, 2016 and December 28, 2014:
(In Millions Except Per Share Amounts)
 
2016
 
2015
 
2014
Basic net earnings per share
 
$
6.04

 
5.56

 
5.80

Average shares outstanding — basic
 
2,737.3

 
2,771.8

 
2,815.2

Potential shares exercisable under stock option plans
 
142.4

 
141.5

 
142.6

Less: shares repurchased under treasury stock method
 
(92.1
)
 
(102.6
)
 
(96.5
)
Convertible debt shares
 
1.3

 
2.2

 
2.6

Adjusted average shares outstanding — diluted
 
2,788.9

 
2,812.9

 
2,863.9

Diluted net earnings per share
 
$
5.93

 
5.48

 
5.70



The diluted net earnings per share calculation included the dilutive effect of convertible debt that is offset by the related reduction in interest expense of $2 million after-tax for year 2016, and $3 million for years 2015 and 2014.
The diluted net earnings per share calculation for 2016, 2015 and 2014 included all shares related to stock options, as the exercise price of all options was less than the average market value of the Company's stock.