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Earnings Per Share | 12 Months Ended
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Jun. 30, 2011
Earnings Per Share |
Earnings Per Share |
Note 9. | Earnings Per Share
The computation of basic and diluted earnings per share is as follows:
|  | Years ended June 30 |
|  | 2011 |  | 2010 |  | 2009 |
|  | (In millions, except per share amounts) |
Net earnings attributable to controlling interests |  | $ | 2,036 |  | $ | 1,930 |  | $ | 1,684 |
Average shares outstanding |  | 642 |  | 643 |  | 643 |
Basic earnings per share |  | $ | 3.17 |  | $ | 3.00 |  | $ | 2.62 |
Net earnings attributable to controlling interests |  | $2,036 |  | $1,930 |  | $1,684 |
Plus: After-tax interest on 4.7% debentures related to $1.75 billion Equity Units |  | 13 |  | — |  | — |
Adjusted net earnings attributable to controlling interests |  | $2,049 |  | $1,930 |  | $1,684 |
Average shares outstanding |  | 642 |  | 643 |  | 643 |
Plus: Incremental shares |  |  |  |  |  |  |
Share-based compensation awards |  | 1 |  | 1 |  | 1 |
Shares assumed issued related to $1.75 billion Equity Units |  | 11 |  | — |  | — |
Adjusted average shares outstanding |  | 654 |  | 644 |  | 644 |
Diluted earnings per share |  | $3.13 |  | $3.00 |  | $2.62 |
Average shares outstanding for 2011 include 44 million of shares beginning June 1, 2011 related to equity unit conversion. Adjusted net earnings attributable to controlling interests in 2011 includes a $13 million adjustment for after-tax interest for the quarter ended March 31, 2011. Adjusted average shares outstanding for 2011 include 44 million shares assumed issued on January 1, 2011 for the quarter ended March 31, 2011, or 11 million shares for the year ended June 30, 2011. These adjustments relate to the $1.75 billion Equity Units and were made as a result of the requirement to use the “if-converted” method of calculating diluted earnings per share for the quarter ended March 31, 2011.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1252-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=6945512&loc=d3e4984-109258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1278-109256 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
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