Basic net earnings per common share are calculated by dividing Net earnings attributable to Procter & Gamble less preferred dividends by the weighted average number of common shares outstanding during the period. Diluted net earnings per common share are calculated by dividing Net earnings attributable to Procter & Gamble by the diluted weighted average number of common shares outstanding during the period. The diluted shares include the dilutive effect of stock options and other share-based awards based on the treasury stock method and the assumed conversion of preferred stock.

Net earnings per common share were calculated as follows:


CONSOLIDATED AMOUNTS	Three Months Ended March 31				Nine Months Ended March 31
	2026		2025		2026		2025
Net earnings attributable to P&G (Diluted)	$	3,932	$	3,769	$	13,002	$	12,359
Less: Preferred dividends	72		71		218		215
Net earnings attributable to P&G available to common shareholders (Basic)	$	3,860	$	3,698	$	12,784	$	12,144

SHARES IN MILLIONS
Basic weighted average common shares outstanding	2,328.5		2,347.2		2,335.3		2,351.8
Add effect of dilutive securities:
Stock options and other unvested equity awards (1)	20.0		31.9		21.8		34.9
Convertible preferred shares (2)	68.0		70.7		68.7		71.3
Diluted weighted average common shares outstanding	2,416.5		2,449.8		2,425.8		2,458.0

NET EARNINGS PER COMMON SHARE
Basic	$	1.66	$	1.58	$	5.47	$	5.16
Diluted	$	1.63	$	1.54	$	5.36	$	5.03

(1)For the three months ended March 31, 2026 and 2025, the weighted average of stock options that were antidilutive and not included in the diluted net earnings per share calculation were 22 million and 8 million, respectively. For the nine months ended March 31, 2026 and 2025, the weighted average of stock options that were antidilutive and not included in the diluted net earnings per share calculation were 20 million and 6 million, respectively.