Intel Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

Earnings Per Share

9 Months Ended

Sep. 26, 2020


NOTE 3 :			EARNINGS PER SHARE

We computed basic earnings per share of common stock based on the weighted average number of shares of common stock outstanding during the period. We computed diluted earnings per share of common stock based on the weighted average number of shares of common stock outstanding plus potentially dilutive shares of common stock outstanding during the period.


	Three Months Ended						Nine Months Ended
(In Millions, Except Per Share Amounts)	Sep 26, 2020		Sep 28, 2019		Sep 26, 2020		Sep 28, 2019
Net income available to common stockholders	$	4,276	$	5,990	$	15,042	$	14,143
Weighted average shares of common stock outstanding—basic	4,188		4,391		4,233		4,450
Dilutive effect of employee equity incentive plans	23		30		36		41
Dilutive effect of convertible debt	—		12		—		16
Weighted average shares of common stock outstanding—diluted	4,211		4,433		4,269		4,507
Earnings per share—basic	$	1.02	$	1.36	$	3.55	$	3.18
Earnings per share—diluted	$	1.02	$	1.35	$	3.52	$	3.14

Potentially dilutive shares of common stock from employee equity incentive plans are determined by applying the treasury stock method to the assumed exercise of outstanding stock options, the assumed vesting of outstanding RSUs, and the assumed issuance of common stock under the stock purchase plan. We used the treasury stock method to consider the dilutive effect of the forward contracts related to the ASR transactions entered into in August 2020 and determined that the forward contracts were anti-dilutive in calculating diluted EPS.

In January 2020, we fully redeemed the remaining principal of our 2009 Debentures. We included our 2009 Debentures in the calculation of diluted earnings per share of common stock in 2019 by applying the treasury stock method because the average market price was above the conversion price.Securities which would have been anti-dilutive are insignificant and are excluded from the computation of diluted earnings per share in all periods presented.