XML 23 R10.htm IDEA: XBRL DOCUMENT v3.21.1
Earnings Per Share
3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
    Basic earnings per share is computed using the weighted-average number of outstanding shares of common stock during the period. Diluted earnings per share is computed using the weighted-average number of outstanding shares of common stock and, when dilutive, potential common shares outstanding during the period. Potential common shares consist of incremental shares issuable upon the assumed exercise of stock options. The computation of earnings per share is as follows:
Three Months Ended
March 31,
2021
March 31,
2020
(in thousands, except per share data)
Basic earnings per share:
Net income
$1,706,715 $709,067 
Shares used in computation:
Weighted-average common shares outstanding
443,224 439,352 
Basic earnings per share$3.85 $1.61 
Diluted earnings per share:
Net income
$1,706,715 $709,067 
Shares used in computation:
Weighted-average common shares outstanding
443,224 439,352 
Employee stock options12,417 13,142 
Weighted-average number of shares
455,641 452,494 
Diluted earnings per share$3.75 $1.57 

Employee stock options with exercise prices greater than the average market price of the common stock were excluded from the diluted calculation as their inclusion would have been anti-dilutive. The following table summarizes the potential common shares excluded from the diluted calculation:
Three Months Ended
March 31,
2021
March 31,
2020
(in thousands)
Employee stock options257 1,516