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Earnings Per Share | 9 Months Ended
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Sep. 28, 2019
Earnings Per Share [Abstract] |
Earnings Per Share |
18. | EARNINGS PER SHARE: The computations of basic and diluted net earnings per share for the third quarter and first nine months of 2019 and 2018 are as follows (in thousands, except per share amounts):
|  | Three Months (13 Weeks) Ended |  |  | Nine Months (39 Weeks) Ended |
|  | Sept. 28, 2019 |  |  | Sept. 29, 2018 |  |  | Sept. 28, 2019 |  |  | Sept. 29, 2018 |
Basic net earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic net earnings |  | $ | 275,031 |  |  | $ | 676,656 |  |  | $ | 1,163,320 |  |  | $ | 1,713,988 |
Earnings allocated to participating securities |  |  | (1,655 | ) |  |  | (2,807 | ) |  |  | (6,295 | ) |  |  | (6,707 | )
Net earnings available to common stockholders |  | $ | 273,376 |  |  | $ | 673,849 |  |  | $ | 1,157,025 |  |  | $ | 1,707,281 |
Average shares outstanding |  |  | 304,637 |  |  |  | 315,913 |  |  |  | 305,553 |  |  |  | 317,928 |
Basic net earnings per share |  | $ | 0.90 |  |  | $ | 2.13 |  |  | $ | 3.79 |  |  | $ | 5.37 |
Diluted net earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Diluted net earnings |  | $ | 275,031 |  |  | $ | 676,656 |  |  | $ | 1,163,320 |  |  | $ | 1,713,988 |
Earnings allocated to participating securities |  |  | (1,656 | ) |  |  | (2,796 | ) |  |  | (6,295 | ) |  |  | (6,684 | )
Net earnings available to common stockholders |  | $ | 273,375 |  |  | $ | 673,860 |  |  | $ | 1,157,025 |  |  | $ | 1,707,304 |
Diluted average shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic shares outstanding |  |  | 304,637 |  |  |  | 315,913 |  |  |  | 305,553 |  |  |  | 317,928 |
Dilutive effect of stock options and other |  |  | 343 |  |  |  | 885 |  |  |  | 476 |  |  |  | 954 |
|  |  | 304,980 |  |  |  | 316,798 |  |  |  | 306,029 |  |  |  | 318,882 |
Diluted net earnings per share |  | $ | 0.90 |  |  | $ | 2.13 |  |  | $ | 3.78 |  |  | $ | 5.35 |
The following stock options were excluded from the computation of diluted net earnings per share for the third quarter and first nine months of 2019 and 2018 because their effect would have been anti-dilutive (shares in thousands):
|  | Three Months (13 Weeks) Ended |  |  | Nine Months (39 Weeks) Ended |
|  | Sept. 28, 2019 |  |  | Sept. 29, 2018 |  |  | Sept. 28, 2019 |  |  | Sept. 29, 2018 |
Anti-dilutive stock options: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares |  |  | 963 |  |  |  | 265 |  |  |  | 963 |  |  |  | 89 |
Weighted-average exercise price |  | $ | 60.92 |  |  | $ | 65.80 |  |  | $ | 60.92 |  |  | $ | 65.80 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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