Earnings Per Common Share

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Common Share

Note T — 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, 2014
Basic earnings per common share	$	96,422	52,850	$	1.82
Effect of dilutive stock options	—		276
Diluted earnings per common share	$	96,422	53,126	$	1.81

	Net Earnings		Weighted Average Shares	Per Share
	(In thousands, except per share data)
Year Ended December 31, 2013
Basic earnings per common share	$	128,757	54,804	$	2.35
Effect of dilutive stock options	—		358
Diluted earnings per common share	$	128,757	55,162	$	2.33

	Net Earnings		Weighted Average Shares	Per Share
	(In thousands, except per share data)
Year Ended December 31, 2012
Basic earnings per common share	$	180,018	58,913	$	3.06
Effect of dilutive stock options	—		492
Diluted earnings per common share	$	180,018	59,405	$	3.03

For 2014, 2013, and 2012, 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 2,496,147, 1,507,355, and 1,115,245, respectively.