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EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2025

Earnings Per Share

Earnings per share

NOTE 14 – EARNINGS PER SHARE

​

The following table illustrates the computation of basic and diluted earnings per share for the three months ended March 31, 2025 and 2024 (in thousands, except per share data):

​

​	​	​	​	​	​	​
​	​	For the Three Months Ended
​	​	March 31,
​		2025			2024
Numerator (basic and diluted):		​			​
Net income	​	$	538,485	​	$	547,238
​	​	​	​	​	​	​
Denominator:	​			​
Weighted-average common shares outstanding – basic	​		57,304	​		59,017
Effect of stock options (1)	​		318	​		437
Weighted-average common shares outstanding – assuming dilution	​		57,622	​		59,454
​	​	​	​	​	​	​
Earnings per share:	​			​
Earnings per share-basic	​	$	9.40	​	$	9.27
Earnings per share-assuming dilution	​	$	9.35	​	$	9.20
​	​	​	​	​	​	​
Antidilutive potential common shares not included in the calculation of diluted earnings per share:	​			​
Stock options (1)	​		98	​		119
Weighted-average exercise price per share of antidilutive stock options (1)	​	$	1,136.87	​	$	917.74

(1) See Note 12 for further information concerning the terms of the Company’s share-based compensation plans.

​

For the three months ended March 31, 2025 and 2024, 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 9 for information concerning the Company’s subsequent share repurchases.  

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The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/260/tableOfContent

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147482662/260-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
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