Earnings Per Share (Tables)

9 Months Ended

Sep. 28, 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 third quarter and first nine months of 2019 and 2018 are as follows (in thousands, except per share amounts):

	Three Months (13 Weeks) Ended						Nine Months (39 Weeks) Ended
	Sept. 28, 2019			Sept. 29, 2018			Sept. 28, 2019			Sept. 29, 2018
Basic net earnings per share:
Basic net earnings	$	275,031		$	676,656		$	1,163,320		$	1,713,988
Earnings allocated to participating securities		(1,655	)		(2,807	)		(6,295	)		(6,707	)
Net earnings available to common stockholders	$	273,376		$	673,849		$	1,157,025		$	1,707,281
Average shares outstanding		304,637			315,913			305,553			317,928
Basic net earnings per share	$	0.90		$	2.13		$	3.79		$	5.37
Diluted net earnings per share:
Diluted net earnings	$	275,031		$	676,656		$	1,163,320		$	1,713,988
Earnings allocated to participating securities		(1,656	)		(2,796	)		(6,295	)		(6,684	)
Net earnings available to common stockholders	$	273,375		$	673,860		$	1,157,025		$	1,707,304
Diluted average shares outstanding:
Basic shares outstanding		304,637			315,913			305,553			317,928
Dilutive effect of stock options and other		343			885			476			954
		304,980			316,798			306,029			318,882
Diluted net earnings per share	$	0.90		$	2.13		$	3.78		$	5.35

Anti-dilutive Stock Options

The following stock options were excluded from the computation of diluted net earnings per share for the third quarter and first nine months of 2019 and 2018 because their effect would have been anti-dilutive (shares in thousands):

	Three Months (13 Weeks) Ended				Nine Months (39 Weeks) Ended
	Sept. 28, 2019		Sept. 29, 2018		Sept. 28, 2019		Sept. 29, 2018
Anti-dilutive stock options:
Weighted-average shares		963		265		963		89
Weighted-average exercise price	$	60.92	$	65.80	$	60.92	$	65.80