Earnings Per Share

3 Months Ended

Mar. 31, 2026

The following table provides a reconciliation between basic and diluted earnings per share:



Millions, except per share amounts, for the three months ended March 31,	2026		2025
Net income	$	1,701	$	1,626
Weighted-average number of shares outstanding:
Basic	593.0		601.0
Dilutive effect of stock options	0.2		0.3
Dilutive effect of retention awards	0.4		0.6
Diluted	593.6		601.9
Earnings per share - basic	$	2.87	$	2.71
Earnings per share - diluted	$	2.87	$	2.70
Stock options excluded as their inclusion would be anti-dilutive	1.3		0.9