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,
		2016				2015				2016				2015
Net income available for common shareholders (A)		$	3,756			$	4,985			$	13,676			$	15,388
Weighted average outstanding shares of common stock (B)			7,895				8,167				7,952				8,215
Dilutive effect of stock-based awards			90				70				89				78
Common stock and common stock equivalents (C)			7,985				8,237				8,041				8,293
Earnings Per Share
Basic (A/B)		$	0.48			$	0.61			$	1.72			$	1.87
Diluted (A/C)		$	0.47			$	0.61			$	1.70			$	1.86

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