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Earnings Per Share
 12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
The company uses the two-class method to calculate basic and diluted earnings per common share because its Series G preferred stock are participating securities. Under the two-class method, undistributed earnings are allocated to common stock and participating securities according to their respective rights in undistributed earnings, as if all of the earnings for the period had been distributed. Basic earnings per common share is computed by dividing the net income attributable to common shareholders by the weighted average number of common shares outstanding during the period. Net income attributable to common shareholders is reduced for preferred stock dividends earned during the period. Series G preferred stock also receives a proportionate allocation of undistributed or overdistributed earnings for the period because Series G preferred stock has a contractual obligation to share in profits and losses of the company. Diluted earnings per share is computed by dividing the net income attributable to common shareholders by the weighted average number of common shares outstanding plus potentially dilutive common shares.
Anti-dilutive stock awards were as follows for the years presented:
(in thousands)202220212020
Stock awards158 86 87 
Total158 86 87 
The following table presents the earnings per share calculation for the years presented:
202220212020
Net Income Attributable to CME Group (in millions)$2,691.0 $2,636.4 $2,105.2 
Less: Preferred stock dividends(38.9)(19.0)— 
Less: (Undistributed earnings) overdistributed earnings allocated to preferred stock5.1 (0.3)— 
Net Income Attributable to Common Shareholders of CME Group$2,657.2 $2,617.1 $2,105.2 
Weighted Average Common Shares Outstanding (in thousands):
Basic358,713 358,340 357,764 
Effect of stock options and stock awards 468 589 760 
Diluted359,181 358,929 358,524 
Earnings per Common Share Attributable to Common Shareholders of CME Group:
Basic$7.41 $7.30 $5.88 
Diluted7.40 7.29 5.87