Earnings Per Share

9 Months Ended

Sep. 28, 2019

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



	Three Months Ended
	2019					2018
	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	$	81,935	315,876	$	0.26	$	169,381	329,342	$	0.51
Effect of dilutive securities:
Stock options and non-vested shares	—		3,237			—		3,595
Diluted earnings per share:
Income available to common shareholders including assumed conversions	$	81,935	319,113	$	0.26	$	169,381	332,937	$	0.51

For the three months ended September 28, 2019 and September 29, 2018, options to purchase 7.7 million and 13.0 million shares of common stock at per share prices ranging from $54.87 to $75.83 and $50.04 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
	2019					2018
	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	$	375,123	320,282	$	1.17	$	498,739	330,789	$	1.51
Effect of dilutive securities:
Stock options and non-vested shares	—		3,079			—		3,704
Diluted earnings per share:
Income available to common shareholders including assumed conversions	$	375,123	323,361	$	1.16	$	498,739	334,493	$	1.49

For the nine months ended September 28, 2019 and September 29, 2018, options to purchase 10.1 million and 12.7 million shares of common stock at per share prices ranging from $51.87 to $75.83 and $50.04 to $73.40, respectively, were outstanding but were not included in the computation of diluted earnings per share because they were anti-dilutive.