Earnings Per Share of Common Stock

3 Months Ended

Mar. 31, 2020

Earnings Per Share of Common Stock

Earnings Per Share of Common Stock

6. Earnings Per Share of Common Stock:

The following table provides the computation of basic and diluted earnings per share of common stock for the three months ended March 31, 2020 and 2019.

	For the Three Months Ended
	March 31, 2020		March 31, 2019
Number of shares on which basic earnings per share is calculated:
Weighted-average shares outstanding during period		887,969,345		889,581,542
Add — Incremental shares under stock-based compensation plans		5,740,415		3,372,460
Add — Incremental shares associated with contingently issuable shares		1,329,477		956,524
Number of shares on which diluted earnings per share is calculated		895,039,238		893,910,526
Income from continuing operations (millions)	$	1,176	$	1,593
Income/(loss) from discontinued operations, net of tax (millions)		(1)		(2)
Net income on which basic earnings per share is calculated (millions)	$	1,175	$	1,591
Income from continuing operations (millions)	$	1,176	$	1,593
Net income applicable to contingently issuable shares (millions)		(2)		—
Income from continuing operations on which diluted earnings per share is calculated (millions)	$	1,174	$	1,593
Income/(loss) from discontinued operations, net of tax, on which basic and diluted earnings per share is calculated (millions)		(1)		(2)
Net income on which diluted earnings per share is calculated (millions)	$	1,173	$	1,591
Earnings/(loss) per share of common stock:
Assuming dilution
Continuing operations	$	1.31	$	1.78
Discontinued operations		0.00		0.00
Total	$	1.31	$	1.78
Basic
Continuing operations	$	1.32	$	1.79
Discontinued operations		0.00		0.00
Total	$	1.32	$	1.79

Stock options to purchase 1,136,899 shares and 1,137,019 shares were outstanding as of March 31, 2020 and 2019, respectively, but were not included in the computation of diluted earnings per share because the options' exercise price during the respective period was greater than the average market price of the common shares, and, therefore, the effect would have been antidilutive.