Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.1.9
Earnings Per Share
 3 Months Ended
Apr. 04, 2015
Earnings Per Share

Note L – Earnings Per Share

 

     Three Months Ended March  
In thousands, except per share amounts    2015      2014  

Earnings per share – basic:

      

Net income

    $ 288,709       $ 297,193   
  

 

 

     

 

 

  

Weighted average common shares outstanding

   426,255      438,290   
  

 

 

     

 

 

  

Earnings per common share

 $ 0.68    $ 0.68   
  

 

 

     

 

 

  

Earnings per share – diluted:

Net income

 $ 288,709    $ 297,193   
  

 

 

     

 

 

  

Weighted average common shares outstanding

   426,255      438,290   

Incremental shares from stock options and other dilutive securities

   7,848      7,976   
  

 

 

     

 

 

  

Adjusted weighted average common shares outstanding

   434,103      446,266   
  

 

 

     

 

 

  

Earnings per common share

 $ 0.67    $ 0.67   
  

 

 

     

 

 

  

Outstanding options to purchase 2.4 million and 2.8 million shares of Common Stock were excluded from the calculations of diluted earnings per share for the three-month periods ended March 2015 and 2014, respectively, because the effect of their inclusion would have been antidilutive. In addition, 1.0 million and 1.3 million of performance-based restricted stock units were excluded from the calculations of diluted earnings per share for the three-month periods ended March 2015 and 2014, respectively, because these units are not considered to be contingent outstanding shares.