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Earnings Per Share
 12 Months Ended
Dec. 31, 2013
Earnings Per Share [Abstract]  
Earnings per share
EARNINGS PER SHARE

The following table reconciles the numerator and denominator used in the basic and diluted earnings per share calculations for the years ended December 31, 2013, 2012 and 2011 (in thousands, except per share data):
 
For the Year Ended December 31,
 
2013
 
2012
 
2011
Numerator (basic and diluted):
 
 
 
 
 
Net income
$
670,292

 
$
585,746

 
$
507,673

 
 
 
 
 
 
Denominator:
 
 
 
 
 
Denominator for basic earnings per share - weighted-average shares
109,244

 
121,182

 
134,667

Effect of stock options (1)
1,857

 
2,132

 
2,316

Denominator for diluted earnings per share - weighted-average shares
111,101

 
123,314

 
136,983

 
 
 
 
 
 
Earnings per share:
 
 
 
 
 
Earnings per share-basic
$
6.14

 
$
4.83

 
$
3.77

Earnings per share-assuming dilution
$
6.03

 
$
4.75

 
$
3.71

 
 
 
 
 
 
Antidilutive common stock equivalents not included in the calculation of diluted earnings per share:
 
 
 
 
 
Stock options (1)
498

 
1,816

 
1,756

Weighted-average exercise price per share of antidilutive stock options (1)
$
103.80

 
$
87.88

 
$
62.79


(1) 
See Note 12 for further discussion on the terms of the Company's share-based compensation plans.

Subsequent to the end of the year and through February 28, 2014, the Company did not repurchase a material number of shares of its common stock.