Earnings Per Common Share

12 Months Ended

Dec. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Common Share

Note R — Earnings Per Common Share

Summarized basic and diluted earnings per common share were calculated as follows:

	Net Earnings		Weighted Average Shares	Per Share
	(In thousands, except per share data)
Year Ended December 31, 2013
Basic earnings per common share	$	128,238	54,804	$	2.34
Effect of dilutive stock options	—		358
Diluted earnings per common share	$	128,238	55,162	$	2.32

	Net Earnings		Weighted Average Shares	Per Share
	(In thousands, except per share data)
Year Ended December 31, 2012
Basic earnings per common share	$	181,703	58,913	$	3.08
Effect of dilutive stock options	—		492
Diluted earnings per common share	$	181,703	59,405	$	3.06

	Net Earnings		Weighted Average Shares	Per Share
	(In thousands, except per share data)
Year Ended December 31, 2011
Basic earnings per common share	$	163,464	61,188	$	2.67
Effect of dilutive stock options	—		701
Diluted earnings per common share	$	163,464	61,889	$	2.64

For 2013, 2012, and 2011, the number of stock options that were outstanding but not included in the computation of diluted earnings per common share because their exercise price was greater than the average market price of the common stock and, therefore anti-dilutive, were 1,507,355, 1,115,245, and 744,640, respectively.