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Earnings Per Share
12 Months Ended
Dec. 31, 2021
Earnings Per Share  
Earnings Per Share

NOTE I. EARNINGS PER SHARE

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

($ in millions except per share amounts)

For the year ended December 31:

    

2021

    

2020

    

2019

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

 

  

  

 

  

Basic

 

895,990,771

890,348,679

 

887,235,105

Add—incremental shares under stock-based compensation plans

 

6,883,290

4,802,940

 

4,199,440

Add—incremental shares associated with contingently issuable shares

 

1,766,940

1,412,352

 

1,378,831

Assuming dilution

 

904,641,001

896,563,971

 

892,813,376

Income from continuing operations

$

4,712

$

3,932

$

7,146

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

 

1,030

 

1,658

 

2,285

Net income on which basic earnings per share is calculated

$

5,743

$

5,590

$

9,431

Income from continuing operations

$

4,712

$

3,932

$

7,146

Net income applicable to contingently issuable shares

 

 

(2)

 

0

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

$

4,712

$

3,930

$

7,146

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

 

1,030

 

1,658

 

2,285

Net income on which diluted earnings per share is calculated

$

5,743

$

5,588

$

9,431

Earnings/(loss) per share of common stock

 

 

 

Assuming dilution

 

 

 

Continuing operations

$

5.21

$

4.38

$

8.00

Discontinued operations

 

1.14

 

1.85

 

2.56

Total

$

6.35

$

6.23

$

10.56

Basic

 

 

 

Continuing operations

$

5.26

$

4.42

$

8.05

Discontinued operations

 

1.15

 

1.86

 

2.58

Total

$

6.41

$

6.28

$

10.63

Weighted-average stock options to purchase 980,505 common shares in 2021, 1,417,665 common shares in 2020 and 855,679 common shares in 2019 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.