Earnings Per Share

12 Months Ended

Dec. 25, 2021


Note 4 :			Earnings Per Share


Years Ended (In Millions, Except Per Share Amounts)	Dec 25, 2021		Dec 26, 2020		Dec 28, 2019
Net income available to common stockholders	$	19,868	$	20,899	$	21,048
Weighted average shares of common stock outstanding—basic	4,059		4,199		4,417
Dilutive effect of employee incentive plans	31		33		41
Dilutive effect of convertible debt	—		—		15
Weighted average shares of common stock outstanding—diluted	4,090		4,232		4,473
Earnings per share—basic	$	4.89	$	4.98	$	4.77
Earnings per share—diluted	$	4.86	$	4.94	$	4.71

We computed diluted earnings per share of common stock based on the weighted average number of shares of common stock outstanding plus potentially dilutive shares of common stock outstanding during the period. Potentially dilutive shares of common stock from employee incentive plans are determined by applying the treasury stock method to the assumed exercise of outstanding stock options, the assumed vesting of outstanding RSUs, and the assumed issuance of common stock under the 2006 ESPP. In January 2020, we fully redeemed the remaining principal of our 2009 Debentures. We included our 2009 Debentures in the calculation of diluted earnings per share of common stock in 2019 by applying the treasury stock method because the average market price was above the conversion price.

Securities that would have been anti-dilutive are insignificant and are excluded from the computation of diluted earnings per share in all periods presented.