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 Purchase Plan as applicable pursuant to the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share:


	Year Ended May 31,
(in millions, except per share data)	2025		2024		2023
Net income	$	12,443	$	10,467	$	8,503
Weighted-average common shares outstanding		2,789		2,744		2,696
Dilutive effect of employee stock plans		77		79		70
Dilutive weighted-average common shares outstanding		2,866		2,823		2,766
Basic earnings per share	$	4.46	$	3.82	$	3.15
Diluted earnings per share	$	4.34	$	3.71	$	3.07
Anti-dilutive stock awards excluded from calculation(1)		23		27		50

(1)

These stock awards relate to anti-dilutive restricted service-based awards as calculated using the treasury stock method and contingently issuable shares pursuant to PSOs arrangements. Such shares could be dilutive in the future. See Note 11 for information regarding our stock-based compensation plans.