EARNINGS PER SHARE

12 Months Ended

Jun. 30, 2016

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 are as follows:

(In millions, except earnings per share)
Year Ended June 30,	2016		2015		2014
Net income available for common shareholders (A)	$	16,798	$	12,193	$	22,074
Weighted average outstanding shares of common stock (B)		7,925		8,177		8,299
Dilutive effect of stock-based awards		88		77		100
Common stock and common stock equivalents (C)		8,013		8,254		8,399
Earnings Per Share
Basic (A/B)	$	2.12	$	1.49	$	2.66
Diluted (A/C)	$	2.10	$	1.48	$	2.63

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