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Earnings Per Share
 12 Months Ended
Dec. 31, 2019
Earnings Per Share  
Earnings Per Share

NOTE H. EARNINGS PER SHARE

The following table presents the computation of basic and diluted earnings per share of common stock.

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($ in millions except per share amounts)

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For the year ended December 31:

    

2019

    

2018

    

2017

Weighted-average number of shares on which earnings per share calculations are based

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Basic

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887,235,105

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912,048,072

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932,828,295

Add—incremental shares under stock-based compensation plans

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4,199,440

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2,786,316

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3,094,373

Add—incremental shares associated with contingently issuable shares

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1,378,831

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1,481,326

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1,462,957

Assuming dilution

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892,813,376

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916,315,714

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937,385,625

Income from continuing operations

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$

9,435

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$

8,723

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$

5,758

Income/(loss) from discontinued operations, net of tax

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(4)

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5

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(5)

Net income on which basic earnings per share is calculated

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$

9,431

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$

8,728

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$

5,753

Income from continuing operations

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$

9,435

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$

8,723

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$

5,758

Net income applicable to contingently issuable shares

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0

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(6)

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(2)

Income from continuing operations on which diluted earnings per share is calculated

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$

9,435

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$

8,718

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$

5,756

Income/(loss) from discontinued operations, net of tax, on which basic and diluted earnings per share is calculated

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(4)

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5

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(5)

Net income on which diluted earnings per share is calculated

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$

9,431

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$

8,722

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$

5,752

Earnings/(loss) per share of common stock

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Assuming dilution

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Continuing operations

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$

10.57

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$

9.51

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$

6.14

Discontinued operations

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(0.01)

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0.01

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0.00

Total

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$

10.56

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$

9.52

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$

6.14

Basic

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Continuing operations

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$

10.63

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$

9.56

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$

6.17

Discontinued operations

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0.00

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0.01

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0.00

Total

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$

10.63

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$

9.57

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$

6.17

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Weighted-average stock options to purchase 855,679 common shares in 2019, 576,776 common shares in 2018 and 209,294 common shares in 2017 were outstanding, but were not included in the computation of diluted earnings per share because the exercise price of the options was greater than the average market price of the common shares for the full year, and therefore, the effect would have been antidilutive.