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Earnings Per Share
12 Months Ended
Dec. 31, 2022
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:

    

2022

    

2021

    

2020

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

 

  

  

 

  

Basic

 

902,664,190

895,990,771

 

890,348,679

Add—incremental shares under stock-based compensation plans

 

7,593,455

6,883,290

 

4,802,940

Add—incremental shares associated with contingently issuable shares

 

2,011,417

1,766,940

 

1,412,352

Assuming dilution

 

912,269,062

904,641,001

 

896,563,971

Income from continuing operations

$

1,783

$

4,712

$

3,932

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

 

(143)

 

1,030

 

1,658

Net income on which basic earnings per share is calculated

$

1,639

$

5,743

$

5,590

Income from continuing operations

$

1,783

$

4,712

$

3,932

Net income applicable to contingently issuable shares

 

 

 

(2)

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

$

1,783

$

4,712

$

3,930

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

 

(143)

 

1,030

 

1,658

Net income on which diluted earnings per share is calculated

$

1,639

$

5,743

$

5,588

Earnings/(loss) per share of common stock

 

 

 

Assuming dilution

 

 

 

Continuing operations

$

1.95

$

5.21

$

4.38

Discontinued operations

 

(0.16)

 

1.14

 

1.85

Total

$

1.80

$

6.35

$

6.23

Basic

 

 

 

Continuing operations

$

1.97

$

5.26

$

4.42

Discontinued operations

 

(0.16)

 

1.15

 

1.86

Total

$

1.82

$

6.41

$

6.28

Weighted-average stock options to purchase 814,976 common shares in 2022, 980,505 common shares in 2021 and 1,417,665 common shares in 2020 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.