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 per share amounts)


Three Months Ended September 30,	2017		2016

Net income available for common shareholders (A)	$	6,576	$	5,667


Weighted average outstanding shares of common stock (B)		7,708		7,789
Dilutive effect of stock-based awards		91		87


Common stock and common stock equivalents (C)		7,799		7,876


Earnings Per Share

Basic (A/B)	$	0.85	$	0.73
Diluted (A/C)	$	0.84	$	0.72

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