Earnings per Share

9 Months Ended

Sep. 30, 2023

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,
	2023		2022		2023		2022


Net earnings	$	289,753	$	286,026	$	760,566	$	801,797
Basic earnings per common share:


Net earnings	$	2.07	$	2.01	$	5.44	$	5.59

Weighted average shares outstanding	139,878,000		142,506,000		139,833,000		143,469,000
Diluted earnings per common share:


Net earnings	$	2.06	$	2.00	$	5.41	$	5.55

Weighted average shares outstanding	140,615,000		143,257,000		140,603,000		144,413,000

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,
	2023	2022	2023	2022
Weighted average shares outstanding - Basic	139,878,000	142,506,000	139,833,000	143,469,000
Dilutive effect of assumed exercise of SARs and vesting of performance shares and RSUs	737,000	751,000	770,000	944,000
Weighted average shares outstanding - Diluted	140,615,000	143,257,000	140,603,000	144,413,000

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 39,000 and 19,000 for the three months ended September 30, 2023 and 2022, respectively, and 54,000 and 28,000 for the nine months ended September 30, 2023 and 2022, respectively.