Earnings per Share

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share

18. Earnings per Share

The following table sets forth a reconciliation of the information used in computing basic and diluted earnings per share:

	Three Months Ended September 30,					Nine Months Ended September 30,
	2014			2013		2014			2013
Earnings from continuing operations	$	232,825		$	226,235	$	626,592		$	651,506
(Loss) earnings from discontinued operations, net	(981		)	42,879		(20,651		)	157,660
Net earnings	$	231,844		$	269,114	$	605,941		$	809,166
Basic earnings (loss) per common share:
Earnings from continuing operations	$	1.40		$	1.33	$	3.74		$	3.79
(Loss) earnings from discontinued operations, net	$	(0.01	)	$	0.25	$	(0.12	)	$	0.92
Net earnings	$	1.40		$	1.58	$	3.62		$	4.71
Weighted average shares outstanding	166,021,000			170,544,000		167,401,000			171,690,000
Diluted earnings (loss) per common share:
Earnings from continuing operations	$	1.38		$	1.31	$	3.69		$	3.75
(Loss) earnings from discontinued operations, net	$	(0.01	)	$	0.25	$	(0.12	)	$	0.91
Net earnings	$	1.38		$	1.56	$	3.57		$	4.65
Weighted average shares outstanding	168,343,000			172,734,000		169,761,000			173,870,000

The following table is a reconciliation of the share amounts used in computing earnings per share:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2014	2013	2014	2013
Weighted average shares outstanding - Basic	166,021,000	170,544,000	167,401,000	171,690,000
Dilutive effect of assumed exercise of employee stock options and SARs and vesting of performance shares	2,322,000	2,190,000	2,360,000	2,180,000
Weighted average shares outstanding - Diluted	168,343,000	172,734,000	169,761,000	173,870,000

Diluted per share amounts are computed using the weighted-average number of common shares and, if dilutive, potential common shares outstanding during the period.  Potential common shares consist of the incremental common shares issuable upon the exercise of stock options and SARs, and vesting of performance shares and restricted shares, as determined using the treasury stock method.  

The weighted average number of anti-dilutive potential common shares excluded from the calculation above were 54,130 and 10,441 for the three and nine months ended September 30, 2014. There were no anti-dilutive potential common shares excluded from the above calculation for the three and nine months ended September 30, 2013.