Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Computations of Basic and Diluted Net 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,	2020			2019			2018
Basic net earnings per share:
Basic net earnings	$	721,470		$	1,271,143		$	2,360,767
Earnings allocated to participating securities		(4,356	)		(7,035	)		(9,344	)
Net earnings available to common stockholders	$	717,114		$	1,264,108		$	2,351,423
Basic average shares outstanding		303,168			305,040			315,858
Basic net earnings per share	$	2.37		$	4.14		$	7.44
Diluted net earnings per share:
Diluted net earnings	$	721,470		$	1,271,143		$	2,360,767
Earnings allocated to participating securities		(4,359	)		(7,034	)		(9,317	)
Net earnings available to common stockholders	$	717,111		$	1,264,109		$	2,351,450
Diluted average shares outstanding:
Basic average shares outstanding		303,168			305,040			315,858
Dilutive effect of stock options and other		103			463			875
		303,271			305,503			316,733
Diluted net earnings per share	$	2.36		$	4.14		$	7.42

Anti-dilutive Stock Options

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,	2020		2019		2018
Anti-dilutive stock options:
Weighted-average shares		2,972	963		156
Weighted-average exercise price	$	51.87	$	60.92	$	65.80