NOTE 2 — EARNINGS PER SHARE

Basic earnings per share (“EPS”) is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted EPS is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options and stock awards.

The components of basic and diluted EPS are as follows:


(In millions, except earnings per share)


Year Ended June 30,	2014		2013		2012

Net income available for common shareholders (A)	$	22,074	$	21,863	$	16,978

Weighted average outstanding shares of common stock (B)		8,299		8,375		8,396
Dilutive effect of stock-based awards		100		95		110

Common stock and common stock equivalents (C)		8,399		8,470		8,506


Earnings Per Share

Basic (A/B)	$	2.66	$	2.61	$	2.02
Diluted (A/C)	$	2.63	$	2.58	$	2.00

Anti-dilutive stock-based awards excluded from the calculations of diluted EPS were immaterial during the periods presented.