Earnings Per Share

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Earnings Per Share

21. Earnings Per Share

The computations of basic and diluted net earnings per share are as follows (in millions, except per share data):

Year Ended December 31,	2024			2023			2022
Basic net earnings per share:
Basic net earnings	$	2,027		$	4,525		$	7,607
Earnings allocated to participating securities		(9	)		(17	)		(31	)
Net earnings available to common stockholders	$	2,018		$	4,508		$	7,576
Basic average shares outstanding		238.3			249.8			262.3
Basic net earnings per share	$	8.47		$	18.05		$	28.88
Diluted net earnings per share:
Diluted net earnings	$	2,027		$	4,525		$	7,607
Earnings allocated to participating securities		(9	)		(17	)		(30	)
Net earnings available to common stockholders	$	2,018		$	4,508		$	7,577
Diluted average shares outstanding:
Basic average shares outstanding		238.3			249.8			262.3
Dilutive effect of stock options and other		0.2			0.6			0.9
		238.5			250.4			263.2
Diluted net earnings per share	$	8.46		$	18.00		$	28.79

The following stock options were excluded from the computation of diluted net earnings per share because their effect would have been anti-dilutive (shares in thousands):

Year Ended December 31,	2024		2023		2022
Anti-dilutive stock options:
Weighted-average shares		35		-		25
Weighted-average exercise price	$	168.85	$	—	$	130.71