EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2017

EARNINGS PER SHARE:

Reconciliation between basic and diluted earnings per share is as follows:



		2017		2016

Net earnings - basic and diluted		$	362,334	$	346,638

Basic earnings per share:
	Basic weighted average number of common shares outstanding	224,184		235,355
Basic earnings per share		$	1.62	$	1.47

Diluted earnings per share:
	Basic weighted average number of common shares outstanding	224,184		235,355
	Plus dilutive impact of stock options, Treasury RSUs and common
	shares held in trust	351		693
	Diluted weighted average number of common shares outstanding	224,535		236,048
Diluted earnings per share		$	1.61	$	1.47

Excluded from the above calculation for the year ended December 31, 2017 are 1,903,101 stock options (2016 - 1,572,273) and nil Treasury RSUs (2016 - 7,500) which were deemed to be anti-dilutive.