Earnings per Share

9 Months Ended

Sep. 30, 2020

19. 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,
	2020		2019		2020		2019


Net earnings	$	200,300	$	206,006	$	501,345	$	509,796
Basic earnings per common share:


Net earnings	$	1.39	$	1.42	$	3.48	$	3.51

Weighted average shares outstanding	144,032,000		145,372,000		144,082,000		145,276,000
Diluted earnings per common share:


Net earnings	$	1.38	$	1.40	$	3.45	$	3.47

Weighted average shares outstanding	145,289,000		147,051,000		145,313,000		147,053,000

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,
	2020	2019	2020	2019
Weighted average shares outstanding - Basic	144,032,000	145,372,000	144,082,000	145,276,000
Dilutive effect of assumed exercise of SARs and vesting of performance shares and RSUs	1,257,000	1,679,000	1,231,000	1,777,000
Weighted average shares outstanding - Diluted	145,289,000	147,051,000	145,313,000	147,053,000

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 RSUs, as determined using the treasury stock method.

The weighted average number of anti-dilutive potential common shares excluded from the calculation above were approximately 36,000 and 28,000 for the three months ended September 30, 2020 and 2019, respectively, and 95,000 and 9,000 for the nine months ended September 30, 2020 and 2019, respectively.