Earnings Per Share
12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
We calculate basic earnings per share by dividing net income by the weighted average number of common shares outstanding, excluding restricted shares. We calculate diluted earnings per share by dividing net income by the weighted average number of common shares outstanding plus the dilutive effect of outstanding share-based awards, including stock options and restricted stock awards. Antidilutive common stock equivalents excluded from the diluted earnings per share calculation are not material. The following table shows our computation of basic and diluted earnings per share:
Year Ended December 31,
(in millions, except per share data)201920182017
Net income$4,767  $3,935  $3,205  
Basic weighted average shares outstanding651  691  720  
Dilutive effect of share-based awards   
Diluted weighted average shares outstanding653  694  723  
Basic earnings per share$7.32  $5.69  $4.45  
Diluted earnings per share$7.30  $5.67  $4.43