Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.8
Earnings Per Share
 9 Months Ended
Sep. 27, 2014
Earnings Per Share

Note L – Earnings Per Share

 

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

Earnings per share – basic:

            

Net income

    $ 470,529       $ 433,761       $ 925,404       $ 842,452   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average common shares outstanding

      430,638         438,180         432,956         438,516   
  

 

 

     

 

 

     

 

 

     

 

 

  

Earnings per common share

    $ 1.09       $ 0.99       $ 2.14       $ 1.92   
  

 

 

     

 

 

     

 

 

     

 

 

  

Earnings per share – diluted:

            

Net income

    $ 470,529       $ 433,761       $ 925,404       $ 842,452   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average common shares outstanding

      430,638         438,180         432,956         438,516   

Incremental shares from stock options and other dilutive securities

      6,949         7,440         7,372         7,964   
  

 

 

     

 

 

     

 

 

     

 

 

  

Adjusted weighted average common shares outstanding

      437,587         445,620         440,328         446,480   
  

 

 

     

 

 

     

 

 

     

 

 

  

Earnings per common share

    $ 1.08       $ 0.97       $ 2.10       $ 1.89   
  

 

 

     

 

 

     

 

 

     

 

 

  

Outstanding options to purchase 0.1 million shares of Common Stock were excluded from the calculation of diluted earnings per share for the three month periods ended September 2014 and 2013 because the effect of their inclusion would have been antidilutive. Outstanding options to purchase 1.8 million and 1.2 million shares of Common Stock were excluded from the calculation of diluted earnings per share for the nine month periods ended September 2014 and 2013, respectively, because the effect of their inclusion would have been antidilutive. In addition, 1.3 million and 1.7 million of performance-based restricted stock units were excluded from the calculation of diluted earnings per share for the three and nine month periods ended September 2014 and September 2013, respectively, because these units are not considered to be contingent outstanding shares.