Basic and Diluted Earnings per Share

3 Months Ended

Mar. 31, 2022

Note 3. 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 March 31,
	Net earnings attributable to shareholders		Weighted average shares		Earnings per share
2022
Basic earnings attributable to shareholders	$	346,109		167,499	$	2.07
Effect of dilutive potential common shares		—		1,717		—
Diluted earnings attributable to shareholders	$	346,109		169,216	$	2.05
2021
Basic earnings attributable to shareholders	$	287,220		169,214	$	1.70
Effect of dilutive potential common shares		—		2,337		—
Diluted earnings attributable to shareholders	$	287,220		171,551	$	1.67

Substantially all outstanding potential common shares as of March 31, 2022 and 2021 were dilutive.