XML 39 R24.htm IDEA: XBRL DOCUMENT v3.3.1.900
Earnings per Share
 12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
17. Earnings per Share

The following table sets forth a reconciliation of the information used in computing basic and diluted earnings per share:
 
Years Ended December 31,
 
2015
 
2014
 
2013
Earnings from continuing operations
$
595,881

 
$
778,140

 
$
797,527

Earnings (loss) from discontinued operations, net
273,948

 
(2,905
)
 
205,602

Net earnings
$
869,829


$
775,235

 
$
1,003,129

 
 
 
 
 
 
Basic earnings per common share:
 
 
 
 
 
Earnings from continuing operations
$
3.78

 
$
4.67

 
$
4.66

Earnings (loss) from discontinued operations, net
$
1.74

 
$
(0.02
)
 
$
1.20

Net earnings
$
5.52

 
$
4.65

 
$
5.86

 
 
 
 
 
 
Weighted average shares outstanding
157,619,000

 
166,692,000

 
171,271,000

 
 
 
 
 
 
Diluted earnings per common share:
 
 
 
 
 
Earnings from continuing operations
$
3.74

 
$
4.61

 
$
4.60

Earnings (loss) from discontinued operations, net
$
1.72

 
$
(0.02
)
 
$
1.18

Net earnings
$
5.46

 
$
4.59

 
$
5.78

 
 
 
 
 
 
Weighted average shares outstanding
159,172,000

 
168,842,000

 
173,547,000


 
The following table is a reconciliation of the share amounts used in computing earnings per share:
 
Years Ended December 31,
 
2015
 
2014
 
2013
Weighted average shares outstanding - Basic
157,619,000

 
166,692,000

 
171,271,000

Dilutive effect of assumed exercise of employee stock options and SARs and vesting of performance shares and restricted shares
1,553,000

 
2,150,000

 
2,276,000

Weighted average shares outstanding - Diluted
159,172,000

 
168,842,000

 
173,547,000



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.  For the years ended December 31, 2015 and 2014 the weighted average number of anti-dilutive potential common shares excluded from the calculation above totaled 25,313 and 38,789, respectively. There were no anti-dilutive potential common shares excluded from the above calculation for the year ended December 31, 2013.