EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2022

Earnings Per Share

Earnings per share

NOTE 16 – EARNINGS PER SHARE

The following table illustrates the computation of basic and diluted earnings per share for the years ended December 31, 2022, 2021 and 2020 (in thousands, except per share data):

	For the Year Ended
	December 31,
	2022		2021		2020
Numerator (basic and diluted):
Net income	$	2,172,650	$	2,164,685	$	1,752,302
Denominator:
Weighted-average common shares outstanding – basic		64,372		68,967		73,817
Effect of stock options (1)		590		644		645
Weighted-average common shares outstanding – assuming dilution		64,962		69,611		74,462
Earnings per share:
Earnings per share-basic	$	33.75	$	31.39	$	23.74
Earnings per share-assuming dilution	$	33.44	$	31.10	$	23.53
Antidilutive potential common shares not included in the calculation of diluted earnings per share:
Stock options (1)		144		111		291
Weighted-average exercise price per share of antidilutive stock options (1)	$	663.36	$	479.90	$	393.42

(1) See Note 12 for further information concerning the terms of the Company’s share-based compensation plans.

See Note 9 for information concerning the Company’s subsequent share repurchases.