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Earnings Per Share
9 Months Ended
Sep. 30, 2018
Earnings Per Share  
Earnings Per Share

Note 4.  Earnings Per Share



Basic earnings per share is based on the weighted average shares of common stock outstanding during the period. Diluted earnings per share assumes the weighted average dilutive effect of common share equivalents outstanding during the period applied to the company’s basic earnings per share. Common share equivalents represent potentially dilutive restricted stock units, deferred stock units, restricted stock, and performance awards, and are excluded from the computation in periods in which they have an anti-dilutive effect. There were no anti-dilutive common share equivalents as of or for the three or nine months ended September 30, 2018 and 2017.



The following tables present a reconciliation of the numerators and the denominators of the company’s basic and diluted earnings per share computations for the nine months ended September 30, 2018 and 2017 (in thousands, except per share data):



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



Three Months Ended September 30,



2018

 

2017



 

 

 

Weighted

 

 

 

 

 

 

 

Weighted

 

 

 



 

 

 

Average

 

 

 

 

 

 

 

Average

 

 

 



Net Income

 

Shares

 

Per Share

 

Net Income

 

Shares

 

Per Share



(Numerator)

 

(Denominator)

 

Amount

 

(Numerator)

 

(Denominator)

 

Amount

Basic earnings per share

$

398,375 

 

 

234,208 

 

$

1.70 

 

$

153,258 

 

 

239,066 

 

$

0.64 

Dilutive common share equivalents

 

 -

 

 

1,441 

 

 

 

 

 

 -

 

 

1,814 

 

 

 

Diluted earnings per share

$

398,375 

 

 

235,649 

 

$

1.69 

 

$

153,258 

 

 

240,880 

 

$

0.64 







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



Nine Months Ended September 30,



2018

 

2017



 

 

 

Weighted

 

 

 

 

 

 

 

Weighted

 

 

 



 

 

 

Average

 

 

 

 

 

 

 

Average

 

 

 



Net Income

 

Shares

 

Per Share

 

Net Income

 

Shares

 

Per Share



(Numerator)

 

(Denominator)

 

Amount

 

(Numerator)

 

(Denominator)

 

Amount

Basic earnings per share

$

988,375 

 

 

235,483 

 

$

4.20 

 

$

508,008 

 

 

241,117 

 

$

2.11 

Dilutive common share equivalents

 

 -

 

 

1,289 

 

 

 

 

 

 -

 

 

1,699 

 

 

 

Diluted earnings per share

$

988,375 

 

 

236,772 

 

$

4.17 

 

$

508,008 

 

 

242,816 

 

$

2.09