Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Earnings per share

v3.8.0.1
Earnings per share
12 Months Ended
Dec. 31, 2017
Earnings Per Share [Abstract]  
Earnings per share
Earnings per share
Basic EPS is calculated by dividing net income by the weighted average number of our ordinary shares outstanding, which excludes 3,007,752, 3,426,810 and 3,030,724 shares of unvested restricted stock as of December 31, 2017, 2016 and 2015, respectively. For the calculation of diluted EPS, the weighted average of our ordinary shares outstanding for basic EPS is adjusted by the effect of dilutive securities, including awards under our equity compensation plans. The number of shares excluded from diluted shares outstanding was 509,677, 152,314 and 36,666 for the years ended December 31, 2017, 2016 and 2015, respectively, because the effect of including those shares in the calculation would have been anti-dilutive.
The computations of basic and diluted EPS for the years ended December 31, 2017, 2016 and 2015 were as follows:
 
Year Ended December 31,
 
2017
 
2016
 
2015
Net income for the computation of basic EPS
$
1,076,151

 
$
1,046,630

 
$
1,178,730

Weighted average ordinary shares outstanding—basic
161,059,552

 
185,514,370

 
203,850,828

Basic EPS
$
6.68

 
$
5.64

 
$
5.78

 
Year Ended December 31,
 
2017
 
2016
 
2015
Net income for the computation of diluted EPS
$
1,076,151

 
$
1,046,630

 
$
1,178,730

Weighted average ordinary shares outstanding—diluted
167,287,508

 
189,682,036

 
206,224,135

Diluted EPS
$
6.43

 
$
5.52

 
$
5.72


The computations of ordinary shares outstanding, excluding shares of unvested restricted stock, as of December 31, 2017, 2016 and 2015 were as follows:
 
As of December 31,
 
2017
 
2016
 
2015
 
Number of ordinary shares
Ordinary shares issued
167,847,345

 
187,847,345

 
203,411,207

Treasury shares
(14,855,244
)
 
(11,600,191
)
 
(3,069,003
)
Ordinary shares outstanding
152,992,101

 
176,247,154

 
200,342,204

Shares of unvested restricted stock
(3,007,752
)
 
(3,426,810
)
 
(3,030,724
)
Ordinary shares outstanding, excluding shares of unvested restricted stock
149,984,349

 
172,820,344

 
197,311,480