Net Income Per Share

12 Months Ended

Dec. 01, 2023

Basic net income per share is computed using the weighted average number of common shares outstanding for the period, excluding unvested restricted stock units and performance awards. Diluted net income per share is based upon the weighted average common shares outstanding for the period plus dilutive potential common shares, including unvested restricted stock units, stock purchase rights and performance share awards using the treasury stock method. Performance share awards are included based on the number of shares that would be issued as if the end of the reporting period was the end of the performance period and the result was dilutive.

The following table sets forth the computation of basic and diluted net income per share for fiscal 2023, 2022 and 2021:


(in millions, except per share data)	2023		2022		2021
Net income	$	5,428	$	4,756	$	4,822

Shares used to compute basic net income per share	457.1		469.5		477.3
Dilutive potential common shares from stock plans and programs	2.0		1.4		3.7
Shares used to compute diluted net income per share	459.1		470.9		481.0

Basic net income per share	$	11.87	$	10.13	$	10.10
Diluted net income per share	$	11.82	$	10.10	$	10.02

Anti-dilutive potential common shares	2.7		4.2		0.2