Earnings Per Share

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Earnings Per Share

21. Earnings Per Share

The computations of basic and diluted net earnings per share are as follows (in thousands, except per share data):

Year Ended December 31,	2016			2015			2014
Basic net earnings per share:
Basic net earnings	$	796,271		$	80,724		$	679,337
Earnings allocated to participating securities		(2,632	)		(1,514	)		(2,321	)
Net earnings available to common stockholders	$	793,639		$	79,210		$	677,016
Average shares outstanding		319,563			320,565			319,838
Basic net earnings per share	$	2.48		$	0.25		$	2.12
Diluted net earnings per share:
Diluted net earnings	$	796,271		$	80,724		$	679,337
Earnings allocated to participating securities		(2,631	)		(1,514	)		(2,321	)
Net earnings available to common stockholders	$	793,640		$	79,210		$	677,016
Diluted average shares outstanding:
Basic shares outstanding		319,563			320,565			319,838
Dilutive effect of stock options and other		259			114			289
		319,822			320,679			320,127
Diluted net earnings per share	$	2.48		$	0.25		$	2.11

The following stock options were excluded from the computation of diluted net earnings per share because their effect would have been anti-dilutive (shares in thousands):

Year Ended December 31,	2016		2015		2014
Anti-dilutive stock options:
Weighted-average shares		942		1,226		—
Weighted-average exercise price	$	47.04	$	47.20	$	—