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Net Earnings Per Share
9 Months Ended
Oct. 01, 2011
Net Earnings Per Share [Abstract] 
Net Earnings Per Share

NOTE 8 – NET EARNINGS PER SHARE

The table below sets forth the computation of basic and diluted net earnings per share (in thousands, except per share amounts):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

October 1,
2011

 

October 2,
2010

 

October 1,
2011

 

October 2,
2010

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings

 

$

226,472

 

$

208,385

 

$

700,794

 

$

700,992

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

 

324,197

 

 

328,231

 

 

326,029

 

 

326,822

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Employee stock options

 

 

2,461

 

 

1,696

 

 

3,276

 

 

2,279

 

Restricted stock units

 

 

156

 

 

—

 

 

137

 

 

—

 

Restricted stock awards

 

 

5

 

 

—

 

 

4

 

 

—

 

Diluted weighted average shares outstanding

 

 

326,819

 

 

329,927

 

 

329,446

 

 

329,101

 

Basic net earnings per share

 

$

0.70

 

$

0.63

 

$

2.15

 

$

2.14

 

Diluted net earnings per share

 

$

0.69

 

$

0.63

 

$

2.13

 

$

2.13

 


Approximately 7.8 million and 21.1 million shares of common stock subject to stock options, restricted stock awards and restricted stock units were excluded from the diluted net earnings per share computation for the three months ended October 1, 2011 and October 2, 2010, respectively, because they were not dilutive. Additionally, approximately 7.3 million and 19.1 million shares of common stock subject to stock options, restricted stock awards and restricted stock units were excluded from the diluted net earnings per share computation for the nine months ended October 1, 2011 and October 2, 2010, respectively, because they were not dilutive.