Basic earnings per share is computed by dividing net income for the period by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income for the period by the weighted-average number of common shares outstanding during the period, plus the dilutive effect of outstanding restricted stock-based awards, stock options, and shares issuable under the employee stock purchase plan as applicable pursuant to the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share:

	Three Months Ended February 28,				Nine Months Ended February 28,
(in millions, except per share data)	2022		2021		2022		2021
Net income	$	2,319	$	5,021	$	3,528	$	9,714
Weighted average common shares outstanding		2,670		2,913		2,711		2,977
Dilutive effect of employee stock plans		84		81		89		72
Dilutive weighted average common shares outstanding		2,754		2,994		2,800		3,049
Basic earnings per share	$	0.87	$	1.72	$	1.30	$	3.26
Diluted earnings per share	$	0.84	$	1.68	$	1.26	$	3.19
Shares subject to anti-dilutive restricted stock-based awards and stock options excluded from calculation⁽¹⁾		33		36		32		36