Earnings Per Share

9 Months Ended

Sep. 30, 2020

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


	Three Months Ended
	2020					2019
	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	$	356,676	305,759	$	1.17	$	81,935	315,876	$	0.26
Effect of dilutive securities:
Stock options, non-vested shares and share units	—		2,607			—		3,237
Diluted earnings per share:
Income available to common shareholders including assumed conversions	$	356,676	308,366	$	1.16	$	81,935	319,113	$	0.26

For the three months ended September 30, 2020 and September 28, 2019, options to purchase 3.9 million and 7.7 million shares of common stock at per share prices ranging from $55.24 to $76.49 and $54.87 to $75.83, respectively, were outstanding but were not included in the computation of diluted earnings per share because they were anti-dilutive.


	Nine Months Ended
	2020					2019
	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	$	638,583	306,759	$	2.08	$	375,123	320,282	$	1.17
Effect of dilutive securities:
Stock options, non-vested shares and share units	—		2,365			—		3,079
Diluted earnings per share:
Income available to common shareholders including assumed conversions	$	638,583	309,124	$	2.07	$	375,123	323,361	$	1.16

For the nine months ended September 30, 2020 and September 28, 2019, options to purchase 4.4 million and 10.1 million shares of common stock at per share prices ranging from $52.32 to $76.49 and $51.87 to $75.83, respectively, were outstanding but were not included in the computation of diluted earnings per share because they were anti-dilutive.