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Earnings Per Share | 3 Months Ended
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Apr. 04, 2021
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:
|  | Fiscal First Quarter Ended |  |
(Shares in Millions) |  | April 4, 2021 |  | March 29, 2020 |  |  |  |
Basic net earnings per share |  | $ | 2.35 |  |  | 2.20 |  |  |  |  |
Average shares outstanding — basic |  | 2,631.6 |  |  | 2,633.7 |  |  |  |  |
Potential shares exercisable under stock option plans |  | 128.4 |  |  | 126.0 |  |  |  |  |
Less: shares which could be repurchased under treasury stock method |  | (87.3) |  |  | (89.4) |  |  |  |  |
Convertible debt shares |  | — |  |  | 0.7 |  |  |  |  |
Average shares outstanding — diluted |  | 2,672.7 |  |  | 2,671.0 |  |  |  |  |
Diluted net earnings per share |  | $ | 2.32 |  |  | 2.17 |  |  |  |  |
The diluted net earnings per share calculation for the fiscal first quarter ended April 4, 2021 excluded 9 million shares related to stock options, as the exercise price of these options was greater than their average market value. In the fiscal first quarter ended April 4, 2021, the Company did not have convertible debt. The diluted net earnings per share calculation for the fiscal first quarter ended March 29, 2020 excluded 10 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 first quarter ended March 29, 2020 included the dilutive effect of convertible debt that was offset by the related reduction in interest expense.

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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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