Earnings per Share

3 Months Ended

Mar. 31, 2017

17. 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 March 31,
	2017		2016
Net earnings	$	172,247	$	99,356
Basic earnings per common share:
Net earnings	$	1.11	$	0.64
Weighted average shares outstanding	155,540,000		155,064,000
Diluted earnings per common share:
Net earnings	$	1.09	$	0.64
Weighted average shares outstanding	157,399,000		156,161,000

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



	Three Months Ended March 31,
	2017	2016
Weighted average shares outstanding - Basic	155,540,000	155,064,000
Dilutive effect of assumed exercise of employee stock options and SARs and vesting of performance shares	1,859,000	1,097,000
Weighted average shares outstanding - Diluted	157,399,000	156,161,000

Diluted earnings per share amounts are computed using the weighted average number of common shares outstanding and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of 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 are excluded from the calculation above. There were no anti-dilutive shares for the three months ended March 31, 2017, and 27,000 for the three months ended March 31, 2016.