| Earnings Per Share |
Note 10 – Earnings Per Share
The computation of basic and diluted earnings per share was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | (in millions, except shares and per share amounts) | 2021 | | 2020 | | 2021 | | 2020 | | | | | | | | | | | | | | Income (loss) from continuing operations | $ | 978 | | | $ | (210) | | | $ | 1,911 | | | $ | 741 | | | | | Income from discontinued operations, net of tax | — | | | 320 | | | — | | | 320 | | | | | Net income | $ | 978 | | | $ | 110 | | | $ | 1,911 | | | $ | 1,061 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Weighted average shares outstanding - basic | 1,247,563,331 | | | 1,236,528,444 | | | 1,245,552,847 | | | 1,047,338,364 | | | | | Effect of dilutive securities: | | | | | | | | | | | Outstanding stock options and unvested stock awards | 6,154,791 | | | — | | | 8,711,617 | | | 9,782,025 | | | | | | | | | | | | | | | | | | | | | | | | | Weighted average shares outstanding - diluted | 1,253,718,122 | | | 1,236,528,444 | | | 1,254,264,464 | | | 1,057,120,389 | | | | | | | | | | | | | | | Basic earnings (loss) per share: | | | | | | | | | | | Continuing operations | $ | 0.78 | | | $ | (0.17) | | | $ | 1.53 | | | $ | 0.71 | | | | | Discontinued operations | — | | | 0.26 | | | — | | | 0.30 | | | | | Earnings per share - basic | $ | 0.78 | | | $ | 0.09 | | | $ | 1.53 | | | $ | 1.01 | | | | | | | | | | | | | | | Diluted earnings (loss) per share: | | | | | | | | | | | Continuing operations | $ | 0.78 | | | $ | (0.17) | | | $ | 1.52 | | | $ | 0.70 | | | | | Discontinued operations | — | | | 0.26 | | | — | | | 0.30 | | | | | Earnings per share - diluted | $ | 0.78 | | | $ | 0.09 | | | $ | 1.52 | | | $ | 1.00 | | | | | | | | | | | | | | | Potentially dilutive securities: | | | | | | | | | | | Outstanding stock options and unvested stock awards | 50,873 | | | 10,234,947 | | | 26,646 | | | 443,679 | | | | SoftBank contingent consideration (1) | 48,751,557 | | | 48,751,557 | | | 48,751,557 | | | 24,375,778 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(1) Represents the weighted average SoftBank Specified Shares that are contingently issuable from the acquisition date of April 1, 2020.
As of June 30, 2021, we had authorized 100 million shares of preferred stock, with a par value of $0.00001 per share. There was no preferred stock outstanding as of June 30, 2021 and 2020. Potentially dilutive securities were not included in the computation of diluted earnings per share if to do so would have been anti-dilutive or if there was a loss from continuing operations for the period. The SoftBank Specified Shares Amount of 48,751,557 shares of T-Mobile common stock was determined to be contingent consideration for the Merger and is not dilutive until the defined volume-weighted average price per share is reached.
|