EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2020

15. EARNINGS PER SHARE

The Corporation is required to report both basic earnings per share (EPS), based on the weighted-average number of common shares outstanding, and diluted earnings per share, based on the basic EPS adjusted for all potentially dilutive shares issuable.

As of December 31, 2020, 2019, and 2018, there were no options outstanding that were considered anti-dilutive.

Earnings per share calculations for the years ended December 31, 2020, 2019, and 2018, were as follows:


(In thousands, except per share data)	Net Earnings		Weighted- Average Shares Outstanding	Earnings per Share
2020
Basic earnings per share	$	201,392	41,738	$	4.83
Dilutive effect of stock options and deferred stock compensation			261
Diluted earnings per share	$	201,392	41,999	$	4.80
2019
Basic earnings per share	$	307,583	42,739	$	7.20
Dilutive effect of stock options and deferred stock compensation			277
Diluted earnings per share	$	307,583	43,016	$	7.15
2018
Basic earnings per share	$	275,749	43,892	$	6.28
Dilutive effect of stock options and deferred stock compensation			424
Diluted earnings per share	$	275,749	44,316	$	6.22