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Earnings per Share
 9 Months Ended
Sep. 23, 2016
Earnings Per Share [Abstract]  
Earnings per Share
Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):
 
Three Months Ended
 
Nine Months Ended
 
September 23,
2016
 
September 25,
2015
 
September 23,
2016
 
September 25,
2015
Net earnings available to
common shareholders
$
54,388

 
$
50,691

 
$
144,887

 
$
292,169

Weighted average shares outstanding for
basic earnings per share
55,684

 
57,325

 
55,571

 
58,180

Dilutive effect of stock options computed
using the treasury stock method and the
average market price
1,285

 
1,339

 
1,335

 
1,410

Weighted average shares outstanding for
diluted earnings per share
56,969

 
58,664

 
56,906

 
59,590

Basic earnings per share
$
0.98

 
$
0.88

 
$
2.61

 
$
5.02

Diluted earnings per share
$
0.95

 
$
0.86

 
$
2.55

 
$
4.90



Stock options to purchase 1,034,000 and 1,391,000 shares were not included in the September 23, 2016 and September 25, 2015 computations of diluted earnings per share, respectively, because they would have been anti-dilutive.