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Earnings Per Share | 6 Months Ended
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Jun. 30, 2019
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):
| Three months ended |  | Six months ended
| June 30, 2019 |  | July 1, 2018 |  | June 30, 2019 |  | July 1, 2018
Net income | $ | 195,631 |  |  | $ | 242,338 |  |  | $ | 323,576 |  |  | $ | 417,101 |
Basic weighted-average shares outstanding | 158,813 |  |  | 166,589 |  |  | 159,061 |  |  | 167,364 |
Effect of dilutive securities - employee stock compensation plan | 612 |  |  | 615 |  |  | 664 |  |  | 825 |
Diluted weighted-average shares outstanding | 159,425 |  |  | 167,204 |  |  | 159,725 |  |  | 168,189 |
Earnings per common share: |  |  |  |  |  |  |
Basic | $ | 1.23 |  |  | $ | 1.45 |  |  | $ | 2.03 |  |  | $ | 2.49 |
Diluted | $ | 1.23 |  |  | $ | 1.45 |  |  | $ | 2.03 |  |  | $ | 2.48 |
Outstanding options to purchase 1.2 million and 1.5 million shares of common stock for the three months ended June 30, 2019 and July 1, 2018, respectively, and 1.2 million and 1.3 million shares of common stock for the six months ended June 30, 2019 and July 1, 2018, respectively, were not included in the Company’s computation of dilutive securities because the exercise price was greater than the market price, and therefore, the effect would have been anti-dilutive. The Company has a share-based compensation plan under which employees may be granted share-based awards including restricted stock units (RSUs). Non-forfeitable dividend equivalents are paid on unvested RSUs. As such, RSUs are considered participating securities under the two-class method of calculating earnings per share as described in ASC Topic 260, “Earnings per Share.” The two-class method of calculating earnings per share did not have a material impact on the Company’s earnings per share calculation for the three and six month periods ended June 30, 2019 and July 1, 2018.

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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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