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EARNINGS PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2017
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share:

 

     Year ended December 31,  
     2017      2016      2015  

Net income

    $ 802,923      $ 724,847      $ 685,866  
  

 

 

     

 

 

     

 

 

  

Weighted average ordinary shares outstanding (in thousands)

      162,720        170,155        179,218  
  

 

 

     

 

 

     

 

 

  

Dilutive effect:

         

Employee stock options, RSUs and PSUs (in thousands)

      3,942        3,141        4,401  
  

 

 

     

 

 

     

 

 

  

Diluted weighted average ordinary shares outstanding (in thousands)

      166,662        173,296        183,619  
  

 

 

     

 

 

     

 

 

  

Basic earnings per ordinary share

    $ 4.93      $ 4.26      $ 3.83  
  

 

 

     

 

 

     

 

 

  

Diluted earnings per ordinary share

    $ 4.82      $ 4.18      $ 3.74