Earnings per Share

6 Months Ended

Jun. 30, 2015

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 June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Earnings from continuing operations	$	155,634	$	210,581	$	272,824	$	380,622
Earnings (loss) from discontinued operations, net	176,762		3,378		269,082		(6,525		)
Net earnings	$	332,396	$	213,959	$	541,906	$	374,097
Basic earnings (loss) per common share:
Earnings from continuing operations	$	0.98	$	1.26	$	1.70	$	2.26
Earnings (loss) from discontinued operations, net	$	1.11	$	0.02	$	1.68	$	(0.04	)
Net earnings	$	2.10	$	1.29	$	3.38	$	2.23
Weighted average shares outstanding	158,640,000		166,474,000		160,137,000		168,103,000
Diluted earnings (loss) per common share:
Earnings from continuing operations	$	0.97	$	1.25	$	1.69	$	2.23
Earnings (loss) from discontinued operations, net	$	1.10	$	0.02	$	1.66	$	(0.04	)
Net earnings	$	2.07	$	1.27	$	3.35	$	2.19
Weighted average shares outstanding	160,398,000		168,857,000		161,876,000		170,450,000

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

	Three Months Ended June 30,		Six Months Ended June 30,
	2015	2014	2015	2014
Weighted average shares outstanding - Basic	158,640,000	166,474,000	160,137,000	168,103,000
Dilutive effect of assumed exercise of employee stock options and SARs and vesting of performance shares	1,758,000	2,383,000	1,739,000	2,347,000
Weighted average shares outstanding - Diluted	160,398,000	168,857,000	161,876,000	170,450,000

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 45,000 and 48,000 for the three months ended June 30, 2015 and 2014, respectively, and 35,000 and zero for the six months ended June 30, 2014.