Earnings Per Share

3 Months Ended

Mar. 29, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

We report a dual presentation of Basic Earnings per Share (“Basic EPS”) and Diluted Earnings per Share (“Diluted EPS”). Basic EPS excludes dilution and is computed by dividing net income by the weighted average number of common shares outstanding during the reported period. Diluted EPS uses the treasury stock method to compute the potential dilution that could occur if stock-based awards and other commitments to issue common stock were exercised.

The computation of Basic EPS and Diluted EPS is as follows:

	Thirteen Weeks Ended
	March 29, 2014		March 30, 2013
Net income	$	24,833	$	49,759
Weighted average shares	154,771		151,084
Basic EPS	$	0.16	$	0.33
Weighted average shares, including the dilutive effect of stock-based awards (4,229 and 3,473 for the thirteen weeks ended March 29, 2014 and March 30, 2013, respectively)	159,000		154,557
Diluted EPS	$	0.16	$	0.32

There were approximately 1,466 and 1,708 stock-based awards for the thirteen weeks ended March 29, 2014 and March 30, 2013, respectively, that were not included in the computation of Diluted EPS because the exercise price was greater than the average market price of the Class A Common Stock during the respective periods, thereby having an antidilutive effect.