Earnings Per Share

6 Months Ended

Jun. 29, 2019

A reconciliation of the numerators and the denominators of the basic and diluted per share computations are as follows:



	Three Months Ended
	2019					2018
	Earnings		Shares	Per-Share		Earnings		Shares	Per-Share
(In thousands, except per share data)	(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount

Basic earnings per share:
Income available to common shareholders	$	126,969	321,280	$	0.40	$	169,357	330,206	$	0.51
Effect of dilutive securities:
Stock options and non-vested shares	—		3,382			—		3,356
Diluted earnings per share:
Income available to common shareholders including assumed conversions	$	126,969	324,662	$	0.39	$	169,357	333,562	$	0.51

For the three months ended June 29, 2019 and June 30, 2018, options to purchase 9.4 million and 14.0 million shares of common stock at per share prices ranging from $53.30 to $73.40 and $47.99 to $73.40, respectively, were outstanding but were not included in the computation of diluted earnings per share because they were anti-dilutive.



	Six Months Ended
	2019					2018
	Earnings		Shares	Per-Share		Earnings		Shares	Per-Share
(In thousands, except per share data)	(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount

Basic earnings per share:
Income available to common shareholders	$	293,188	322,485	$	0.91	$	329,358	331,479	$	0.99
Effect of dilutive securities:
Stock options and non-vested shares	—		3,013			—		3,744
Diluted earnings per share:
Income available to common shareholders including assumed conversions	$	293,188	325,498	$	0.90	$	329,358	335,223	$	0.98

For the six months ended June 29, 2019 and June 30, 2018, options to purchase 12.5 million and 12.4 million shares of common stock at per share prices ranging from $51.46 to $73.40 and $50.04 to $73.40, respectively, were outstanding but were not included in the computation of diluted earnings per share because they were anti-dilutive.