Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2020

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,
	2020		2019		2020		2019
Numerator (basic and diluted):
Net income	$	531,667	$	353,681	$	832,105	$	674,833
Denominator:
Weighted-average common shares outstanding – basic		74,205		77,613		74,611		78,047
Effect of stock options (1)		628		799		635		807
Weighted-average common shares outstanding – assuming dilution		74,833		78,412		75,246		78,854
Earnings per share:
Earnings per share-basic	$	7.16	$	4.56	$	11.15	$	8.65
Earnings per share-assuming dilution	$	7.10	$	4.51	$	11.06	$	8.56
Antidilutive potential common shares not included in the calculation of diluted earnings per share:
Stock options (1)		341		184		348		188
Weighted-average exercise price per share of antidilutive stock options (1)	$	378.84	$	357.18	$	378.29	$	357.33

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