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EARNINGS PER SHARE (Tables)
9 Months Ended
Sep. 30, 2023
Earnings Per Share  
Computation of basic and diluted earnings per share

For the Three Months Ended

For the Nine Months Ended

September 30, 

September 30, 

    

2023

    

2022

    

2023

    

2022

Numerator (basic and diluted):

 

  

 

  

 

  

 

  

Net income

$

649,827

$

585,438

$

1,794,077

$

1,644,078

Denominator:

 

  

 

  

 

  

 

  

Weighted-average common shares outstanding – basic

 

60,082

 

63,288

 

60,905

 

64,979

Effect of stock options (1)

 

508

 

572

 

540

 

587

Weighted-average common shares outstanding – assuming dilution

 

60,590

 

63,860

 

61,445

 

65,566

Earnings per share:

 

  

 

  

 

  

 

  

Earnings per share-basic

$

10.82

$

9.25

$

29.46

$

25.30

Earnings per share-assuming dilution

$

10.72

$

9.17

$

29.20

$

25.08

Antidilutive potential common shares not included in the calculation of diluted earnings per share:

 

  

 

  

 

  

 

  

Stock options (1)

 

83

 

139

 

98

 

145

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

$

853.21

$

660.74

$

824.23

$

658.74

(1)See Note 11 for further information concerning the terms of the Company’s share-based compensation plans.