| Schedule of Computation of Basic and Diluted Earnings Per Share |
The computation of basic and diluted earnings per share was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | (in millions, except shares and per share amounts) | 2026 | | 2025 | | 2026 | | 2025 | | | | | | | | | | | | | | Net income | $ | 3,239 | | | $ | 3,222 | | | $ | 5,743 | | | $ | 6,175 | | | | | | | | | | | | | | | | | | | | | | | | Weighted-average shares outstanding – basic (1) | 1,081,771,279 | | | 1,132,760,465 | | | 1,090,922,014 | | | 1,136,627,715 | | | | | Effect of dilutive securities: | | | | | | | | | | Outstanding stock options and unvested stock awards (1) | 638,357 | | | 2,086,501 | | | 1,434,235 | | | 3,143,024 | | | | | | | | | | | | | | | Weighted-average shares outstanding – diluted | 1,082,409,636 | | | 1,134,846,966 | | | 1,092,356,249 | | | 1,139,770,739 | | | | | | | | | | | | | | | Earnings per share – basic | $ | 2.99 | | | $ | 2.84 | | | $ | 5.26 | | | $ | 5.43 | | | | | Earnings per share – diluted | $ | 2.99 | | | $ | 2.84 | | | $ | 5.26 | | | $ | 5.42 | | | | | | | | | | | | | | | Potentially dilutive securities: | | | | | | | | | | | Outstanding stock options and unvested stock awards | 6,122,349 | | | 2,479,780 | | | 2,242,724 | | | 80,012 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(1) Our calculations of the weighted-average number of shares issuable related to the Ka’ena Acquisition earnout (“Ka’ena Shares”) are based on the 20 trading day volume-weighted average price as of June 30, 2026 and 2025, respectively, as further described below.
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