EARNINGS PER SHARE

3 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 2 — EARNINGS PER SHARE

Basic earnings per share (“EPS”) is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted EPS is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options and stock awards.

The components of basic and diluted EPS were as follows:

(In millions, except earnings per share)
Three Months Ended September 30,	2024		2023
Net income available for common shareholders (A)	$	24,667	$	22,291
Weighted average outstanding shares of common stock (B)		7,433		7,429
Dilutive effect of stock-based awards		37		33
Common stock and common stock equivalents (C)		7,470		7,462
Earnings Per Share
Basic (A/B)	$	3.32	$	3.00
Diluted (A/C)	$	3.30	$	2.99

Anti-dilutive stock-based awards excluded from the calculations of diluted EPS were immaterial during the periods presented.