Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v3.20.4
Earnings Per Share
12 Months Ended
Dec. 26, 2020
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
Note 4 : Earnings Per Share
Years Ended (In Millions, Except Per Share Amounts) Dec 26, 2020 Dec 28, 2019 Dec 29, 2018
Net income available to common stockholders $ 20,899  $ 21,048  $ 21,053 
Weighted average shares of common stock outstanding—basic 4,199  4,417  4,611 
Dilutive effect of employee incentive plans 33  41  50 
Dilutive effect of convertible debt —  15  40 
Weighted average shares of common stock outstanding—diluted 4,232  4,473  4,701 
Earnings per share—basic $ 4.98  $ 4.77  $ 4.57 
Earnings per share—diluted $ 4.94  $ 4.71  $ 4.48 
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. Potentially dilutive shares of common stock from employee 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 2006 ESPP. 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 and 2018 by applying the treasury stock method because the average market price was above the conversion price.
Securities that would have been anti-dilutive are insignificant and are excluded from the computation of diluted earnings per share in all periods presented.