XML 31 R16.htm IDEA: XBRL DOCUMENT v3.19.2
Earnings Per Share
 6 Months Ended
Jun. 30, 2019
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 and the first fiscal six months ended June 30, 2019 and July 1, 2018:
 
 
Fiscal Second Quarter Ended
 
Fiscal Six Months Ended
(Shares in Millions)
 
June 30, 2019
 
July 1, 2018
 
June 30, 2019
 
July 1, 2018
Basic net earnings per share
 
$
2.11

 
1.47

 
3.52

 
3.10

Average shares outstanding — basic
 
2,652.5

 
2,682.3

 
2,656.7

 
2,682.2

Potential shares exercisable under stock option plans
 
140.8

 
127.5

 
138.6

 
141.8

Less: shares which could be repurchased under treasury stock method
 
(102.3
)
 
(89.3
)
 
(99.0
)
 
(96.3
)
Convertible debt shares
 
0.7

 
0.8

 
0.7

 
0.8

Average shares outstanding — diluted
 
2,691.7

 
2,721.3

 
2,697.0

 
2,728.5

Diluted net earnings per share
 
$
2.08

 
1.45

 
3.47

 
3.05



The diluted net earnings per share calculation for both the fiscal second quarters ended June 30, 2019 and July 1, 2018 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 the fiscal second quarter ended June 30, 2019 excluded an insignificant number of shares related to stock options, as the exercise price of these options was greater than their average market value. The diluted net earnings per share calculation for the fiscal second quarter ended July 1, 2018 excluded 17 million shares related to stock options, as the exercise price of these options was greater than their average market value.

The diluted net earnings per share calculation for the fiscal six months ended June 30, 2019 and July 1, 2018 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 the fiscal six months ended June 30, 2019 excluded an insignificant number of shares related to stock options, as the exercise price of these options was greater than their average market value. The diluted net earnings per share calculation for the fiscal six months ended July 1, 2018 included all shares related to stock options, as there were no options or other instruments which were anti-dilutive.