EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

EARNINGS PER SHARE

14. EARNINGS PER SHARE

The Corporation is required to report both basic earnings per share (EPS), based on the weighted-average number of common shares outstanding, and diluted earnings per share, based on the basic EPS adjusted for all potentially dilutive shares issuable.

As of December 31, 2019, 2018, and 2017, there were no options outstanding that were considered anti-dilutive.

Earnings per share calculations for the years ended December 31, 2019, 2018, and 2017, were as follows:

(In thousands, except per share data)	Net Earnings		Weighted- Average Shares Outstanding	Earnings per Share
2019
Basic earnings per share	$	307,583	42,739	$	7.20
Dilutive effect of stock options and deferred stock compensation			277
Diluted earnings per share	$	307,583	43,016	$	7.15
2018
Basic earnings per share	$	275,749	43,892	$	6.28
Dilutive effect of stock options and deferred stock compensation			424
Diluted earnings per share	$	275,749	44,316	$	6.22
2017
Basic earnings per share	$	214,891	44,182	$	4.86
Dilutive effect of stock options and deferred stock compensation			579
Diluted earnings per share	$	214,891	44,761	$	4.80