XML 36 R17.htm IDEA: XBRL DOCUMENT

Earnings Per Share

3 Months Ended

Apr. 04, 2021

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.