We calculate basic earnings per share by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share further includes the dilutive effect of stock-based compensation awards. We calculate that dilutive effect using the “treasury stock method” (as defined by GAAP).

The following table presents information concerning basic and diluted earnings per share:


	2023		2024		2025


Net income available to common stockholders	$	783	$	1,024	$	869

Share data (in thousands):
Basic average common shares outstanding	479,155		476,394		472,655
Dilutive effect of stock-based awards	1,310		826		295
Diluted average common shares outstanding	480,465		477,220		472,950

Basic earnings per share	$	1.63	$	2.15	$	1.84
Diluted earnings per share	$	1.63	$	2.14	$	1.84

We excluded common stock-based awards for approximately 1,107,000 shares, 1,689,000 shares, and 3,325,000 shares from the calculation of diluted earnings per share for 2023, 2024, and 2025, respectively, because they were not dilutive for those periods under the treasury stock method.