Earnings Per Common Share

3 Months Ended

Apr. 03, 2021

EARNINGS PER COMMON SHARE

Basic earnings per common share (“EPS”) is calculated based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per common share is calculated based on the weighted average number of shares of common stock outstanding plus potentially dilutive shares of common stock outstanding during the period. The following table presents a reconciliation of the share amounts used in the computation of basic and diluted earnings per common share:


	Three months ended
(In thousands)	April 3, 2021	March 28, 2020
Basic—weighted common shares outstanding	135,068	134,745
Weighted common shares assumed upon exercise of stock options and vesting of restricted common stock	1,434	1,624
Diluted—weighted common shares and common shares equivalent outstanding	136,502	136,369

The Company excluded the following shares underlying stock-based awards from the calculations of diluted EPS because their inclusion would have been anti-dilutive for the three months ended April 3, 2021 and March 28, 2020:

Three months ended

(In thousands)

April 3, 2021

March 28, 2020

Shares excluded from calculations of diluted EPS

140

252