Earnings per share:


Notes to Financial Statements

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)   

Three Months Ended

March 31,

   

Nine Months Ended

March 31,

 


     2014     2013     2014     2013  

Net income available for common shareholders (A)

   $   5,660      $   6,055      $   17,462      $   16,898   

Weighted average outstanding shares of common stock (B)

     8,284        8,364        8,317        8,385   

Dilutive effect of stock-based awards

     83        65        94        87   


 


 


 


Common stock and common stock equivalents (C)

     8,367        8,429        8,411        8,472   
    


 


 


 


Earnings Per Share                         

Basic (A/B)

   $ 0.68      $ 0.72      $ 2.10      $ 2.02   

Diluted (A/C)

   $ 0.68      $ 0.72      $ 2.08      $ 1.99   


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