Earnings per share

12 Months Ended

Dec. 31, 2021


	Year Ended December 31
(in millions of U.S. dollars, except share and per share data)	2021		2020		2019
Numerator:
Net income	$	8,539	$	3,533	$	4,454
Denominator:
Denominator for basic earnings per share:
Weighted-average shares outstanding	439,968,422		451,602,820		455,910,463
Denominator for diluted earnings per share:
Share-based compensation plans	3,228,856		1,838,692		3,004,200
Weighted-average shares outstanding and assumed conversions	443,197,278		453,441,512		458,914,663
Basic earnings per share	$	19.41	$	7.82	$	9.77
Diluted earnings per share	$	19.27	$	7.79	$	9.71
Potential anti-dilutive share conversions	1,532,066		6,811,966		2,410,337

Excluded from weighted-average shares outstanding and assumed conversions is the impact of securities that would have been anti-dilutive during the respective years. These securities consisted of stock options in which the underlying exercise prices were greater than the average market prices of our Common Shares. Refer to Note 12 for additional information on stock options.