Earnings per Share

9 Months Ended

Sep. 30, 2016

17. Earnings per Share

The following table sets forth a reconciliation of the information used in computing basic and diluted earnings per share:



	Three Months Ended September 30,					Nine Months Ended September 30,
	2016		2015			2016		2015
Earnings from continuing operations	$	130,084	$	186,483		$	347,730	$	459,307
(Losses) earnings from discontinued operations, net	—		(385		)	—		268,697
Net earnings	$	130,084	$	186,098		$	347,730	$	728,004

Basic earnings per common share:
Earnings from continuing operations	$	0.84	$	1.20		$	2.24	$	2.90
Earnings from discontinued operations, net	$	—	$	—		$	—	$	1.70
Net earnings	$	0.84	$	1.20		$	2.24	$	4.59

Weighted average shares outstanding	155,300,000		155,300,000			155,182,000		158,507,000

Diluted earnings per common share:
Earnings from continuing operations	$	0.83	$	1.19		$	2.22	$	2.87
Earnings from discontinued operations, net	$	—	$	—		$	—	$	1.68
Net earnings	$	0.83	$	1.19		$	2.22	$	4.55

Weighted average shares outstanding	156,798,000		156,560,000			156,562,000		160,112,000

The following table is a reconciliation of the share amounts used in computing earnings per share:



	Three Months Ended September 30,		Nine Months Ended September 30,
	2016	2015	2016	2015
Weighted average shares outstanding - Basic	155,300,000	155,300,000	155,182,000	158,507,000
Dilutive effect of assumed exercise of employee stock options and SARs and vesting of performance shares	1,498,000	1,260,000	1,380,000	1,605,000
Weighted average shares outstanding - Diluted	156,798,000	156,560,000	156,562,000	160,112,000

Diluted earnings per share amounts are computed using the weighted average number of common shares outstanding and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options and SARs, and vesting of performance shares and restricted shares, as determined using the treasury stock method.

The weighted average number of anti-dilutive potential common shares excluded from the calculation above were approximately 21,000 and 47,000 for the three months ended September 30, 2016 and 2015, respectively, and 31,000 and 44,000 for the nine months ended September 30, 2016 and 2015, respectively.