Earnings Per Share [Text Block] |
19. Earnings per Share
The following table sets forth a reconciliation of the information used in computing basic and diluted earnings per share: | | | | | | | | | | | | | | | | | | | Years Ended December 31, | | | | | | 2018 | | 2017 | | 2016 | Earnings from continuing operations | $ | 591,145 | | $ | 746,663 | | $ | 502,128 | (Loss) earnings from discontinued operations, net | (20,878) | | 65,002 | | 6,764 | Net earnings | $ | 570,267 | | $ | 811,665 | | $ | 508,892 | Basic earnings per common share: | | | | | | Earnings from continuing operations | $ | 3.94 | | $ | 4.80 | | $ | 3.23 | (Loss) earnings from discontinued operations, net | $ | (0.14) | | $ | 0.42 | | $ | 0.04 | Net earnings | $ | 3.80 | | $ | 5.21 | | $ | 3.28 | | | | | | | Weighted average basic shares outstanding | 149,874,000 | | 155,685,000 | | 155,231,000 | Diluted earnings per common share: | | | | | | Earnings from continuing operations | $ | 3.89 | | $ | 4.73 | | $ | 3.21 | (Loss) earnings from discontinued operations, net | $ | (0.14) | | $ | 0.41 | | $ | 0.04 | Net earnings | $ | 3.75 | | $ | 5.15 | | $ | 3.25 | | | | | | | Weighted average diluted shares outstanding | 152,133,000 | | 157,744,000 | | 156,636,000 |
The following table is a reconciliation of the share amounts used in computing earnings per share: | | | | | | | | | | | | | | | | | | | Years Ended December 31, | | | | | | 2018 | | 2017 | | 2016 | Weighted average shares outstanding - Basic | 149,874,000 | | 155,685,000 | | 155,231,000 | Dilutive effect of assumed exercise of SARs and vesting of performance shares and RSUs | 2,259,000 | | 2,059,000 | | 1,405,000 | Weighted average shares outstanding - Diluted | 152,133,000 | | 157,744,000 | | 156,636,000 |
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 SARs and vesting of performance shares and RSUs, as determined using the treasury stock method. For the years ended December 31, 2018, 2017 and 2016, the weighted average number of anti-dilutive potential common shares excluded from the calculation above totaled 1,382, 79,756 and 6,799, respectively.
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