EARNINGS PER SHARE

The following is a reconciliation of basic common shares outstanding to diluted common and common equivalent shares outstanding:



	For the fiscal year ended
	December 30, 2017			December 31, 2016			January 2, 2016
Weighted-average number of common and common equivalent shares outstanding:
Basic number of common shares outstanding	47,593,211			49,917,858			51,835,053
Dilutive effect of equity awards	552,864			457,849			499,583
Diluted number of common and common equivalent shares outstanding	48,146,075			50,375,707			52,334,636
Earnings per share:
(dollars in thousands, except per share data)
Basic net income per common share:
Net income	$	302,764		$	258,106		$	237,822
Income allocated to participating securities	(2,406		)	(2,049		)	(2,184		)
Net income available to common shareholders	$	300,358		$	256,057		$	235,638
Basic net income per common share	$	6.31		$	5.13		$	4.55

Diluted net income per common share:
Net income	$	302,764		$	258,106		$	237,822
Income allocated to participating securities	(2,385		)	(2,035		)	(2,167		)
Net income available to common shareholders	$	300,379		$	256,071		$	235,655
Diluted net income per common share	$	6.24		$	5.08		$	4.50

Anti-dilutive shares excluded from dilutive earnings per share calculations (1)	629,944			247,460			192,740

(1) The volume of antidilutive shares is, in part, due to the related unamortized compensation costs.

The Company grants shares of its common stock in the form of restricted stock awards to certain key employees under the Company's Amended and Restated Equity Incentive Plan (see Note 9, Stock-based Compensation, to the consolidated financial statements). Prior to vesting of the restricted stock awards, the grant recipients are entitled to receive non-forfeitable cash dividends if the Company's board of directors declares and pays dividends on the Company's common stock. Accordingly, unvested shares of the Company's restricted stock awards are deemed to be participating securities for purposes of computing diluted earnings per share (EPS), and therefore the Company's diluted EPS represent the lower of the amounts calculated under the treasury stock method or the two-class method of calculating diluted EPS.