Earnings Per Share (Tables)

3 Months Ended

Mar. 30, 2019

Earnings Per Share [Abstract]

Computations of Basic and Diluted Net Earnings Per Share

The computations of basic and diluted net earnings per share for the first quarter of 2019 and 2018 are as follows (in thousands, except per share amounts):

	Three Months (13 Weeks) Ended
	March 30, 2019			March 31, 2018
Basic net earnings per share:
Basic net earnings	$	501,806		$	354,179
Earnings allocated to participating securities		(1,968	)		(1,181	)
Net earnings available to common stockholders	$	499,838		$	352,998
Average shares outstanding		306,585			319,421
Basic net earnings per share	$	1.63		$	1.11
Diluted net earnings per share:
Diluted net earnings	$	501,806		$	354,179
Earnings allocated to participating securities		(1,964	)		(1,177	)
Net earnings available to common stockholders	$	499,842		$	353,002
Diluted average shares outstanding:
Basic shares outstanding		306,585			319,421
Dilutive effect of stock options and other		595			1,053
		307,180			320,474
Diluted net earnings per share	$	1.63		$	1.10

Anti-dilutive Stock Options

The following stock options were excluded from the computation of diluted net earnings per share for the first quarter of 2019 because their effect would have been anti-dilutive (shares in thousands):

	Three Months (13 Weeks) Ended
	March 30, 2019		March 31, 2018
Anti-dilutive stock options:
Weighted-average shares		963		—
Weighted-average exercise price	$	60.92	$	—