Earnings per share

6 Months Ended

Jun. 30, 2025

Earnings Per Share [Abstract]

Earnings per share

Earnings per share

The computation of basic EPS is based on the weighted-average number of our common shares outstanding. The computation of diluted EPS is based on the weighted-average number of our common shares outstanding and dilutive potential common shares, which primarily include shares that may be issued under our stock option, restricted stock and performance unit award programs (collectively, dilutive securities), as determined by using the treasury stock method.

The computations for basic and diluted EPS were as follows (in millions, except per-share data):

	Three months ended June 30,				Six months ended June 30,
	2025		2024		2025		2024
Income (Numerator):
Net income for basic and diluted EPS	$	1,432	$	746	$	3,162	$	633
Shares (Denominator):
Weighted-average shares for basic EPS	538		537		538		537
Effect of dilutive securities	3		4		3		4
Weighted-average shares for diluted EPS	541		541		541		541
Basic earnings per share	$	2.66	$	1.39	$	5.88	$	1.18
Diluted earnings per share	$	2.65	$	1.38	$	5.84	$	1.17

For the three and six months ended June 30, 2025 and 2024, the number of antidilutive employee stock-based awards excluded from the computation of diluted EPS was not significant.