Earnings Per Share

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Earnings per share

EARNINGS PER SHARE

The following table sets forth the comparison of basic and diluted earnings per share:

	Year Ended December 31,
	2014		2013		2012
Basic earnings per share:
Net income	$	490,259	$	417,880	$	493,007
Weighted average common shares outstanding	97,538,319		102,464,715		108,171,435
Basic earnings per share	$	5.03	$	4.08	$	4.56

	Year Ended December 31,
	2014		2013		2012
Diluted earnings per share:
Net income	$	490,259	$	417,880	$	493,007
Weighted average common shares outstanding	97,538,319		102,464,715		108,171,435
Share equivalents:
Warrants and options	1,432,960		1,536,939		1,306,002
RSU and LTIP awards	605,808		864,180		1,727,265
Employee share purchase plan	14,686		—		4,953
Weighted average common shares and common share equivalents outstanding — diluted	99,591,773		104,865,834		111,209,655
Diluted earnings per share	$	4.92	$	3.98	$	4.43

For the years ended December 31, 2014, 2013 and 2012, a weighted average of nil, nil and 678,312 employee stock options and RSUs were considered anti-dilutive and were therefore excluded from the calculation of the diluted earnings per share, respectively.