Earnings Per Share

9 Months Ended

Oct. 03, 2015

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. In periods when we recognize a net loss, we exclude the impact of outstanding stock awards from the diluted loss per share calculation, as their inclusion would have an anti-dilutive effect.

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



	Thirteen Weeks Ended				Thirty-nine Weeks Ended
	October 3, 2015		September 27, 2014		October 3, 2015		September 27, 2014
Net income	$	64,922	$	72,234	$	73,904	$	147,680
Weighted average shares	152,203		155,760		154,955		155,300
Basic EPS	$	0.43	$	0.46	$	0.48	$	0.95
Weighted average shares, including the dilutive effect of stock-based awards (2,539 and 3,783 for the thirteen weeks ended October 3, 2015 and September 27, 2014, respectively, and 3,061 and 3,881 for the thirty-nine weeks ended October 3, 2015 and September 27, 2014, respectively)	154,742		159,543		158,016		159,181
Diluted EPS	$	0.42	$	0.45	$	0.47	$	0.93

There were approximately 2,869 and 0 stock-based awards for the thirteen weeks ended October 3, 2015 and September 27, 2014, respectively, and 2,444 and 651 stock based awards for the thirty-nine weeks ended October 3, 2015 and September 27, 2014, 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.