Earnings Per Share

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Earnings Per Share

16. Earnings Per Share

The computations of basic and diluted net earnings per share for the third quarter and first nine months of 2023 and 2022 are as follows (in thousands, except per share amounts):
 

	Three Months (13 Weeks) Ended						Nine Months (39 Weeks) Ended
	September 30, 2023			October 1, 2022			September 30, 2023			October 1, 2022
Basic net earnings per share:
Basic net earnings	$	1,141,506		$	1,694,748		$	3,739,402		$	6,351,604
Earnings allocated to participating securities		(4,501	)		(6,893	)		(13,788	)		(26,238	)
Net earnings available to common    stockholders	$	1,137,005		$	1,687,855		$	3,725,614		$	6,325,366
Basic average shares outstanding		248,504			259,102			250,752			264,655
Basic net earnings per share	$	4.58		$	6.51		$	14.86		$	23.90
Diluted net earnings per share:
Diluted net earnings	$	1,141,506		$	1,694,748		$	3,739,402		$	6,351,604
Earnings allocated to participating securities		(4,488	)		(6,872	)		(13,747	)		(26,145	)
Net earnings available to common    stockholders	$	1,137,018		$	1,687,876		$	3,725,655		$	6,325,459
Diluted average shares outstanding:
Basic average shares outstanding		248,504			259,102			250,752			264,655
Dilutive effect of stock options and other		412			424			427			584
		248,916			259,526			251,179			265,239
Diluted net earnings per share	$	4.57		$	6.50		$	14.83		$	23.85

The following stock options were excluded from the computation of diluted net earnings per share for the third quarter and first nine months of 2023 and 2022 because their effect would have been anti-dilutive (shares in thousands):

	Three Months (13 Weeks) Ended				Nine Months (39 Weeks) Ended
	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Anti-dilutive stock options:
Weighted-average shares		-		98		-		33
Weighted-average exercise price	$	-	$	130.71	$	-	$	130.71