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Earnings Per Share
 6 Months Ended
Jun. 29, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
The following table sets forth the computation for basic and diluted earnings per share (in thousands, except per share amounts):
 
Three months ended
 
Six months ended
 
June 29,
2014
 
June 30,
2013
 
June 29,
2014
 
June 30,
2013
Numerator:
 
 
 
 
 
 
 
Net income used in computing basic and diluted earnings per share
$
354,153

 
$
271,739

 
$
620,070

 
$
495,868

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per share - weighted-average common shares
217,762

 
223,052

 
218,367

 
223,737

Effect of dilutive securities - employee stock compensation plan
1,399

 
1,418

 
1,453

 
1,569

Denominator for diluted earnings per share - adjusted weighted-average shares outstanding
219,161

 
224,470

 
219,820

 
225,306

Earnings per common share:
 
 
 
 
 
 
 
Basic
$
1.63

 
$
1.22

 
$
2.84

 
$
2.22

Diluted
$
1.62

 
$
1.21

 
$
2.82

 
$
2.20


Outstanding options to purchase 0.4 million and 1.2 million shares of common stock for the three months ended June 29, 2014 and June 30, 2013, respectively, and 0.5 million and 1.3 million shares of common stock for the six months ended June 29, 2014 and June 30, 2013 were not included in the Company’s computation of dilutive securities because the exercise price was greater than the market price and therefore the effect would have been anti-dilutive.
The Company has a share-based compensation plan under which employees may be granted share-based awards including shares of restricted stock and restricted stock units (RSUs). Non-forfeitable dividends are paid on unvested shares of restricted stock and non-forfeitable dividend equivalents are paid on unvested RSUs. As such, shares of restricted stock and RSUs are considered participating securities under the two-class method of calculating earnings per share as described in ASC Topic 260, “Earnings per Share.” The two-class method of calculating earnings per share did not have a material impact on the Company’s earnings per share calculation for the three and six month periods ending June 29, 2014 and June 30, 2013, respectively.