Earnings Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Share

22. 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,	2019			2018			2017
Basic net earnings per share:
Basic net earnings	$	1,271,143		$	2,360,767		$	1,318,688
Earnings allocated to participating securities		(7,035	)		(9,344	)		(4,549	)
Net earnings available to common stockholders	$	1,264,108		$	2,351,423		$	1,314,139
Average shares outstanding		305,040			315,858			319,990
Basic net earnings per share	$	4.14		$	7.44		$	4.11
Diluted net earnings per share:
Diluted net earnings	$	1,271,143		$	2,360,767		$	1,318,688
Earnings allocated to participating securities		(7,034	)		(9,317	)		(4,539	)
Net earnings available to common stockholders	$	1,264,109		$	2,351,450		$	1,314,149
Diluted average shares outstanding:
Basic shares outstanding		305,040			315,858			319,990
Dilutive effect of stock options and other		463			875			783
		305,503			316,733			320,773
Diluted net earnings per share	$	4.14		$	7.42		$	4.10

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,	2019		2018		2017
Anti-dilutive stock options:
Weighted-average shares	963		156		407
Weighted-average exercise price	$	60.92	$	65.80	$	59.07