v3.21.2
Earnings Per Share
6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
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)2021202020212020
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 - basic1,247,563,331 1,236,528,444 1,245,552,847 1,047,338,364 
Effect of dilutive securities:
Outstanding stock options and unvested stock awards6,154,791 — 8,711,617 9,782,025 
Weighted average shares outstanding - diluted1,253,718,122 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 awards50,873 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.