Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 2013 | | 2012 | | 2011 |
| Net Income | | | | Shares | | Net Income | | | | Shares | | Net Income | | | | Shares |
| (millions, except per share data) |
Net income and average number of shares outstanding | $ | 1,486 |
| | | | 377.3 |
| | $ | 1,335 |
| | | | 404.4 |
| | $ | 1,256 |
| | | | 423.5 |
|
Shares to be issued under deferred compensation
and other plans | | | | | 1.0 |
| | | | | | 1.1 |
| | | | | | 1.0 |
|
| $ | 1,486 |
| | | | 378.3 |
| | $ | 1,335 |
| | | | 405.5 |
| | $ | 1,256 |
| | | | 424.5 |
|
Basic earnings per share | | | $ | 3.93 |
| | | | | | $ | 3.29 |
| | | | | | $ | 2.96 |
| | |
Effect of dilutive securities – | | | | | | | | | | | | | | | | | |
Stock options, restricted stock and restricted
stock units | | | | | 6.5 |
| | | | | | 6.7 |
| | | | | | 5.9 |
|
| $ | 1,486 |
| | | | 384.8 |
| | $ | 1,335 |
| | | | 412.2 |
| | $ | 1,256 |
| | | | 430.4 |
|
Diluted earnings per share | | | $ | 3.86 |
| | | | | | $ | 3.24 |
| | | | | | $ | 2.92 |
| | |
In addition to the stock options, restricted stock and restricted stock units reflected in the foregoing table, restricted stock units relating to 0.7 million shares of common stock were outstanding at February 1, 2014, stock options to purchase 7.5 million shares of common stock and restricted stock units relating to 1.4 million shares of common stock were outstanding at February 2, 2013, and stock options to purchase 9.3 million of shares of common stock and restricted stock units relating to 2.1 million shares of common stock were outstanding at January 28, 2012, but were not included in the computation of diluted earnings per share for 2013, 2012 and 2011, respectively, because their inclusion would have been antidilutive or they were subject to performance conditions that had not been met.
