Basic and Diluted Earnings per Share

6 Months Ended

Jun. 30, 2023

Note 4. Basic and Diluted Earnings per Share

Diluted earnings attributable to shareholders per share is computed using the weighted average number of common shares and dilutive potential common shares outstanding. Dilutive potential shares represent outstanding stock options, including purchase options under the Company's employee stock purchase plan, and unvested restricted stock units. Basic earnings attributable to shareholders per share is calculated using the weighted average number of common shares outstanding without taking into consideration dilutive potential common shares outstanding.

The following table reconciles the numerator and the denominator of the basic and diluted per share computations for earnings attributable to shareholders:


	Three months ended June 30,
	Net earnings attributable to shareholders		Weighted average shares		Earnings per share
2023
Basic earnings attributable to shareholders	$	196,800		150,435	$	1.31
Effect of dilutive potential common shares		—		1,128		—
Diluted earnings attributable to shareholders	$	196,800		151,563	$	1.30
2022
Basic earnings attributable to shareholders	$	377,805		165,092	$	2.29
Effect of dilutive potential common shares		—		1,382		—
Diluted earnings attributable to shareholders	$	377,805		166,474	$	2.27



	Six months ended June 30,
	Net earnings attributable to shareholders		Weighted average shares		Earnings per share
2023
Basic earnings attributable to shareholders	$	422,811		152,291	$	2.78
Effect of dilutive potential common shares		—		1,225		—
Diluted earnings attributable to shareholders	$	422,811		153,516	$	2.75
2022
Basic earnings attributable to shareholders	$	723,914		166,423	$	4.35
Effect of dilutive potential common shares		—		1,557		—
Diluted earnings attributable to shareholders	$	723,914		167,980	$	4.31

Substantially all outstanding potential common shares as of June 30, 2023 were dilutive. For the three and six months ended June 30, 2022, 945 potential shares were excluded from the computation of diluted earnings per share because the effect would have been antidilutive.