Basic and Diluted Earnings per Share

9 Months Ended

Sep. 30, 2020

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 September 30,
	Net earnings attributable to shareholders		Weighted average shares		Earnings per share
2020
Basic earnings attributable to shareholders	$	191,307		168,310	$	1.14
Effect of dilutive potential common shares		—		2,425		—
Diluted earnings attributable to shareholders	$	191,307		170,735	$	1.12
2019
Basic earnings attributable to shareholders	$	160,221		170,415	$	0.94
Effect of dilutive potential common shares		—		3,068		—
Diluted earnings attributable to shareholders	$	160,221		173,483	$	0.92

	Nine months ended September 30,
	Net earnings attributable to shareholders		Weighted average shares		Earnings per share
2020
Basic earnings attributable to shareholders	$	497,520		167,942	$	2.96
Effect of dilutive potential common shares		—		2,597		—
Diluted earnings attributable to shareholders	$	497,520		170,539	$	2.92
2019
Basic earnings attributable to shareholders	$	453,069		171,084	$	2.65
Effect of dilutive potential common shares		—		3,379		—
Diluted earnings attributable to shareholders	$	453,069		174,463	$	2.60

Substantially all outstanding potential common shares as of September 30, 2020 and 2019 were dilutive.