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EARNINGS PER SHARE | 9 Months Ended
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Sep. 30, 2023
Earnings Per Share |
Earnings per share | NOTE 13 – EARNINGS PER SHARE ​ The following table illustrates the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2023 and 2022 (in thousands, except per share data): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Three Months Ended | ​ | For the Nine Months Ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022
Numerator (basic and diluted): |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Net income | ​ | $ | 649,827 | ​ | $ | 585,438 | ​ | $ | 1,794,077 | ​ | $ | 1,644,078
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Denominator: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Weighted-average common shares outstanding – basic | ​ |  | 60,082 | ​ |  | 63,288 | ​ |  | 60,905 | ​ |  | 64,979
Effect of stock options (1) | ​ |  | 508 | ​ |  | 572 | ​ |  | 540 | ​ |  | 587
Weighted-average common shares outstanding – assuming dilution | ​ |  | 60,590 | ​ |  | 63,860 | ​ |  | 61,445 | ​ |  | 65,566
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Earnings per share: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Earnings per share-basic | ​ | $ | 10.82 | ​ | $ | 9.25 | ​ | $ | 29.46 | ​ | $ | 25.30
Earnings per share-assuming dilution | ​ | $ | 10.72 | ​ | $ | 9.17 | ​ | $ | 29.20 | ​ | $ | 25.08
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Antidilutive potential common shares not included in the calculation of diluted earnings per share: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Stock options (1) | ​ |  | 83 | ​ |  | 139 | ​ |  | 98 | ​ |  | 145
Weighted-average exercise price per share of antidilutive stock options (1) | ​ | $ | 853.21 | ​ | $ | 660.74 | ​ | $ | 824.23 | ​ | $ | 658.74
(1) | See Note 11 for further information concerning the terms of the Company’s share-based compensation plans.
​ For the three and nine months ended September 30, 2023 and 2022, the computation of diluted earnings per share did not include certain securities. These securities represent underlying stock options not included in the computation of diluted earnings per share, because the inclusion of such equity awards would have been antidilutive. ​ See Note 8 for information concerning the Company’s subsequent share repurchases.

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