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Earnings Per Share | 6 Months Ended
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Jun. 28, 2020
Earnings Per Share [Abstract] |
Earnings Per Share | EARNINGS PER SHARE The following is a reconciliation of basic net earnings per share to diluted net earnings per share for the fiscal second quarters and fiscal six months ended June 28, 2020 and June 30, 2019:
|  | Fiscal Second Quarter Ended |  |  |  | Fiscal Six Months Ended |  |
(Shares in Millions) |  | June 28, 2020 |  | June 30, 2019 |  | June 28, 2020 |  | June 30, 2019
Basic net earnings per share |  | $ | 1.38 |  |  | 2.11 |  |  | 3.58 |  |  | 3.52 |
Average shares outstanding — basic |  | 2,632.9 |  |  | 2,652.5 |  |  | 2,633.3 |  |  | 2,656.7 |
Potential shares exercisable under stock option plans |  | 119.6 |  |  | 140.8 |  |  | 122.6 |  |  | 138.6 |
Less: shares which could be repurchased under treasury stock method |  | (87.5) |  |  | (102.3) |  |  | (85.4) |  |  | (99.0) |
Convertible debt shares |  | 0.5 |  |  | 0.7 |  |  | 0.5 |  |  | 0.7 |
Average shares outstanding — diluted |  | 2,665.5 |  |  | 2,691.7 |  |  | 2,671.0 |  |  | 2,697.0 |
Diluted net earnings per share |  | $ | 1.36 |  |  | 2.08 |  |  | 3.53 |  |  | 3.47 |
The diluted net earnings per share calculation for both the fiscal second quarters ended June 28, 2020 and June 30, 2019 included the dilutive effect of convertible debt that was offset by the related reduction in interest expense. The diluted net earnings per share calculation for the fiscal second quarter ended June 28, 2020 excluded 20 million shares related to stock options, as the exercise price of these options was greater than their average market value. The diluted net earnings per share calculation for the fiscal second quarter ended June 30, 2019 excluded an insignificant number of shares related to stock options, as the exercise price of these options was greater than their average market value. The diluted net earnings per share calculation for both the fiscal six months ended June 28, 2020 and June 30, 2019 included the dilutive effect of convertible debt that was offset by the related reduction in interest expense. The diluted net earnings per share calculation for the fiscal six months ended June 28, 2020 excluded 15 million shares related to stock options, as the exercise price of these options was greater than their average market value. The diluted net earnings per share calculation for the fiscal six months ended June 30, 2019 excluded an insignificant number of shares related to stock options, as the exercise price of these options was greater than their average market value.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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