Earnings Per Share

6 Months Ended

Jun. 30, 2023

The calculations of (loss) earnings per share are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
($ and shares in millions except per share amounts)	2023		2022		2023		2022
Net (Loss) Income Attributable to Merck & Co., Inc.	$	(5,975)	$	3,944	$	(3,154)	$	8,254
Average common shares outstanding	2,539		2,531		2,539		2,529
Common shares issuable (1)	—		9		—		9
Average common shares outstanding assuming dilution	2,539		2,540		2,539		2,538
Basic (Loss) Earnings per Common Share Attributable to Merck & Co., Inc. Common Shareholders	$	(2.35)	$	1.56	$	(1.24)	$	3.26
(Loss) Earnings per Common Share Assuming Dilution Attributable to Merck & Co., Inc. Common Shareholders	$	(2.35)	$	1.55	$	(1.24)	$	3.25

(1) Issuable primarily under share-based compensation plans.

The Company recorded a net loss for the three and six months ended June 30, 2023; therefore, no potential dilutive common shares were used in the computations of loss per common share assuming dilution because the effects would have been antidilutive. For the three and six months ended June 30, 2022, 2 million and 6 million, respectively, of common shares issuable under share-based compensation plans were excluded from the computations of earnings per common share assuming dilution because the effect would have been antidilutive.