Faster, stronger, better. Annual report 2019 creating more smiles with every sip

Note 10 — Net Income Attributable to PepsiCo per Common Share
The computations of basic and diluted net income attributable to PepsiCo per common share are as follows:
2019
2018
2017
Income Shares
(a)
Income Shares
(a)
Income Shares
(a)
Net income attributable to PepsiCo
$ 7,314
$ 12,515
$ 4,857
Preferred stock:
Redemption premium 
(b)
—
(2)
(4)
Net income available for PepsiCo
common shareholders
$ 7,314
1,399 $ 12,513
1,415 $ 4,853
1,425
Basic net income attributable to PepsiCo
per common share
$ 5.23
$ 8.84
$ 3.40
Net income available for PepsiCo
common shareholders
$ 7,314
1,399 $ 12,513
1,415 $ 4,853
1,425
Dilutive securities:
Stock options, RSUs, PSUs, 
PEPunits and Other 
(c)
—
8
—
10
—
12
Employee stock ownership plan
(ESOP) convertible preferred stock
—
—
2
—
4
1
Diluted
$ 7,314
1,407 $ 12,515
1,425 $ 4,857
1,438
Diluted net income attributable to
PepsiCo per common share
$ 5.20
$ 8.78
$ 3.38
(a) Weighted-average common shares outstanding (in millions).
(b) See Note 11 for further information.
(c) The dilutive effect of these securities is calculated using the treasury stock method.
Out-of-the-money options excluded from the calculation of diluted earnings per common share are as follows: 
2019
2018
2017
Out-of-the-money options 
(a)
0.3
0.7
0.4
Average exercise price per option
$
117.55 $
109.83 $
110.12
(a) In millions.