Earnings Per Share

9 Months Ended

Oct. 01, 2016

A reconciliation of the numerators and the denominators of the basic and diluted per share computations are as follows:



	Three Months Ended
	2016					2015
	Earnings		Shares	Per-Share		Earnings		Shares	Per-Share
(In thousands, except per share data)	(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount

Basic earnings per share:
Income available to common shareholders	$	169,979	338,684	$	0.50	$	147,282	344,040	$	0.43
Effect of dilutive securities:
Stock options and non-vested shares	—		6,133			—		7,324
Diluted earnings per share:
Income available to common shareholders including assumed conversions	$	169,979	344,817	$	0.49	$	147,282	351,364	$	0.42

For the three months ended October 1, 2016 and October 3, 2015, options to purchase 8.1 million and 3.9 million shares of common stock at per share prices ranging from $47.84 to $73.40 and $48.39 to $73.40, respectively, were outstanding but were not included in the computation of diluted earnings per share because they were anti-dilutive.



	Nine Months Ended
	2016					2015
	Earnings		Shares	Per-Share		Earnings		Shares	Per-Share
(In thousands, except per share data)	(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount

Basic earnings per share:
Income available to common shareholders	$	486,793	338,675	$	1.44	$	373,254	343,933	$	1.09
Effect of dilutive securities:
Stock options and non-vested shares	—		6,242			—		7,958
Diluted earnings per share:
Income available to common shareholders including assumed conversions	$	486,793	344,917	$	1.41	$	373,254	351,891	$	1.06

For the nine months ended October 1, 2016 and October 3, 2015, options to purchase 7.2 million and 2.5 million shares of common stock at per share prices ranging from $47.38 to $73.40 and $51.97 to $73.40, respectively, were outstanding but were not included in the computation of diluted earnings per share because they were anti-dilutive.