Earnings Per Share

3 Months Ended

Mar. 31, 2023

The calculations of earnings per share are as follows:


	Three Months Ended March 31,
($ and shares in millions except per share amounts)	2023		2022
Net Income Attributable to Merck & Co., Inc.	$	2,821	$	4,310
Average common shares outstanding	2,538		2,528
Common shares issuable (1)	13		9
Average common shares outstanding assuming dilution	2,551		2,537
Basic Earnings per Common Share Attributable to Merck & Co., Inc. Common Shareholders	$	1.11	$	1.70
Earnings per Common Share Assuming Dilution Attributable to Merck & Co., Inc. Common Shareholders	$	1.11	$	1.70

(1) Issuable primarily under share-based compensation plans.

For the first quarter of 2023 and 2022, 1 million and 7 million, respectively, of common shares issuable under share-based compensation plans were excluded from the computation of earnings per common share assuming dilution because the effect would have been antidilutive.