The holders of our Class A and Class B common stock (together, "common stock") have identical liquidation and dividend rights but different voting rights. Accordingly, we present the earnings per share (EPS) for Class A and Class B common stock together.

Basic EPS is computed by dividing net income by the weighted-average number of shares of our common stock outstanding. Diluted EPS is computed by dividing net income by the weighted-average number of fully diluted common stock outstanding and assumes the conversion of our Class B common stock to Class A common stock.

For the years ended December 31, 2025 and 2023, approximately 9 million and 16 million shares of RSUs, respectively, were excluded from the diluted EPS calculation, as including them would have an anti-dilutive effect. RSUs with anti-dilutive effect were not material for the year ended December 31, 2024.

The numerators and denominators of the basic and diluted EPS computations for our common stock are calculated as follows (in millions, except per share amounts):


	Year Ended December 31,
	2025		2024		2023 (2)
Basic EPS:
Numerator
Distributed earnings	$	5,324	$	5,072	$	—
Undistributed earnings	55,134		57,288		39,098
Net income	$	60,458	$	62,360	$	39,098
Denominator
Shares used in computation of basic EPS (1)	2,521		2,534		2,574
Basic EPS	$	23.98	$	24.61	$	15.19
Diluted EPS:
Numerator
Net income for diluted EPS	$	60,458	$	62,360	$	39,098
Denominator
Shares used in computation of basic EPS (1)	2,521		2,534		2,574
Effect of dilutive RSUs	53		80		55
Shares used in computation of diluted EPS	2,574		2,614		2,629
Diluted EPS	$	23.49	$	23.86	$	14.87

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(1)Includes 2,178 million, 2,189 million, and 2,220 million shares of Class A common stock and 343 million, 345 million, and 354 million shares of Class B common stock, for the years ended December 31, 2025, 2024, and 2023, respectively.

(2)The prior period EPS for Class A and Class B common stock has been presented together to conform with current period presentation, which had no impact on our previously reported basic or diluted EPS.