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Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 2013
Earnings Per Share  
Computation of basic and diluted earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended

 

For the Six Months Ended

 

June 30,

 

June 30,

 

2013

 

2012

 

2013

 

2012

Numerator (basic and diluted):

 

 

 

 

 

 

 

 

 

 

 

Net income

$

177,127 

 

$

146,120 

 

$

331,456 

 

$

293,612 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic earnings per share - weighted-average shares

 

110,278 

 

 

124,870 

 

 

110,914 

 

 

125,920 

Effect of stock options (1)

 

1,801 

 

 

2,318 

 

 

1,822 

 

 

2,341 

Denominator for diluted earnings per share - weighted-average shares

 

112,079 

 

 

127,188 

 

 

112,736 

 

 

128,261 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share-basic

$

1.61 

 

$

1.17 

 

$

2.99 

 

$

2.33 

Earnings per share-assuming dilution

$

1.58 

 

$

1.15 

 

$

2.94 

 

$

2.29 

 

Antidilutive stock option summary

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Antidilutive common stock equivalents not included in the calculation of diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

Stock options (1)

 

784 

 

 

1,035 

 

 

1,182 

 

 

1,213 

Weighted-average exercise price per share of antidilutive stock options (1)

$

96.38 

 

$

89.69 

 

$

93.57 

 

$

87.85 

 

 

 

 

 

 

 

 

 

 

 

 

(1) See Note 8 for further discussion on the terms of the Company's share-based compensation plans.