Earnings Per Share

6 Months Ended

Jun. 30, 2020

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


	Three Months Ended
	2020								2019
	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	$	134,748	304,776	$	0.44	$	126,969	321,280	$	0.40
Effect of dilutive securities:
Stock options, non-vested shares and share units	—		1,941			—		3,382
Diluted earnings per share:
Income available to common shareholders including assumed conversions	$	134,748	306,717	$	0.44	$	126,969	324,662	$	0.39

For the three months ended June 30, 2020 and June 29, 2019, options to purchase 6.0 million and 9.4 million shares of common stock at per share prices ranging from $52.32 to $76.49 and $53.30 to $73.40, respectively, were outstanding but were not included in the computation of diluted earnings per share because they were anti-dilutive.


	Six Months Ended
	2020								2019
	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	$	281,907	307,256	$	0.92	$	293,188	322,485	$	0.91
Effect of dilutive securities:
Stock options, non-vested shares and share units	—		2,264			—		3,013
Diluted earnings per share:
Income available to common shareholders including assumed conversions	$	281,907	309,520	$	0.91	$	293,188	325,498	$	0.90

For the six months ended June 30, 2020 and June 29, 2019, options to purchase 4.5 million and 12.5 million shares of common stock at per share prices ranging from $52.32 to $76.49 and $51.46 to $73.40, respectively, were outstanding but were not included in the computation of diluted earnings per share because they were anti-dilutive.