EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2023

Earnings Per Share

Earnings per share

NOTE 17 – EARNINGS PER SHARE

The following table illustrates the computation of basic and diluted earnings per share for the years ended December 31, 2023, 2022, and 2021 (in thousands, except per share data):

	For the Year Ended
	December 31,
	2023		2022		2021
Numerator (basic and diluted):
Net income	$	2,346,581	$	2,172,650	$	2,164,685
Denominator:
Weighted-average common shares outstanding – basic		60,475		64,372		68,967
Effect of stock options (1)		523		590		644
Weighted-average common shares outstanding – assuming dilution		60,998		64,962		69,611
Earnings per share:
Earnings per share-basic	$	38.80	$	33.75	$	31.39
Earnings per share-assuming dilution	$	38.47	$	33.44	$	31.10
Antidilutive potential common shares not included in the calculation of diluted earnings per share:
Stock options (1)		95		144		111
Weighted-average exercise price per share of antidilutive stock options (1)	$	836.12	$	663.36	$	479.90

(1) See Note 13 for further information concerning the terms of the Company’s share-based compensation plans.

See Note 10 for information concerning the Company’s subsequent share repurchases.