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Earnings Per Share
 9 Months Ended
Sep. 29, 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 third quarters and the fiscal nine months ended September 29, 2019 and September 30, 2018:
 
 
Fiscal Third Quarter Ended
 
Fiscal Nine Months Ended
(Shares in Millions)
 
September 29, 2019
 
September 30, 2018
 
September 29, 2019
 
September 30, 2018
Basic net earnings per share
 
$
0.67

 
1.47

 
4.19

 
4.57

Average shares outstanding — basic
 
2,635.2

 
2,683.2

 
2,649.5

 
2,682.6

Potential shares exercisable under stock option plans
 
117.8

 
140.3

 
137.6

 
140.9

Less: shares which could be repurchased under treasury stock method
 
(83.8
)
 
(96.7
)
 
(99.7
)
 
(94.7
)
Convertible debt shares
 
0.7

 
0.8

 
0.7

 
0.8

Average shares outstanding — diluted
 
2,669.9

 
2,727.6

 
2,688.1

 
2,729.6

Diluted net earnings per share
 
$
0.66

 
1.44

 
4.13

 
4.49



The diluted net earnings per share calculation for both the fiscal third quarters ended September 29, 2019 and September 30, 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 third quarter ended September 29, 2019 excluded 19 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 third quarter ended September 30, 2018 included all shares related to stock options, as there were no options or other instruments which were anti-dilutive.

The diluted net earnings per share calculation for both the fiscal nine months ended September 29, 2019 and September 30, 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 nine months ended September 29, 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 nine months ended September 30, 2018 included all shares related to stock options, as there were no options or other instruments which were anti-dilutive.