Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.8
Earnings Per Share
 3 Months Ended
Mar. 29, 2014
Earnings Per Share

Note L – Earnings Per Share

 

In thousands, except per share amounts    Three Months Ended March  
     2014      2013  

Earnings per share – basic:

      

Net income

    $ 297,193       $ 270,417   
  

 

 

     

 

 

  

Weighted average common shares outstanding

      438,290         440,272   
  

 

 

     

 

 

  

Earnings per common share

    $ 0.68       $ 0.61   
  

 

 

     

 

 

  

Earnings per share – diluted:

      

Net income

    $ 297,193       $ 270,417   
  

 

 

     

 

 

  

Weighted average common shares outstanding

      438,290         440,272   

Incremental shares from stock options and other dilutive securities

      7,976         7,624   
  

 

 

     

 

 

  

Adjusted weighted average common shares outstanding

      446,266         447,896   
  

 

 

     

 

 

  

Earnings per common share

    $ 0.67       $ 0.60   
  

 

 

     

 

 

  

Outstanding options to purchase 2.8 million and 3.6 million shares of Common Stock for the three month periods ended March 2014 and 2013, respectively, were excluded from the calculations of diluted earnings per share because the effect of their inclusion would have been antidilutive. In addition, 1.3 million and 1.5 million performance-based restricted stock units were excluded from the computation of diluted earnings per share for the three month periods ended March 2014 and March 2013, respectively, because these units are not considered to be contingent outstanding shares.