Earnings Per Share (Tables)

9 Months Ended

Jun. 26, 2020

The following table sets forth the computation of basic and diluted earnings per share:


	Three months ended									Nine months ended
(in thousands, except per share data)	June 26, 2020			June 28, 2019			June 26, 2020			June 28, 2019
Numerator:
Net income		$	24,078		$	36,550		$	98,061		$	93,054
Less: Undistributed earnings allocated to participating securities		519			996			2,221			2,499
Net income available to common shareholders		$	23,559		$	35,554		$	95,840		$	90,555

Denominator:
Basic weighted average common shares outstanding		47,207			46,386			47,247			46,481
Effect of dilutive securities: Non-participating employee stock options ⁽¹⁾		612			1,171			842			1,254
Diluted weighted average common shares outstanding		47,819			47,557			48,089			47,735
Basic earnings per share		$	0.50		$	0.77		$	2.03		$	1.95
Diluted earnings per share		$	0.49		$	0.75		$	1.99		$	1.90


(1) Stock options to purchase approximately 0.3 million and 0.3 million shares of common stock were outstanding during the three months ended June 26, 2020 and June 28, 2019, respectively, but were not included in the calculation of diluted earnings per share as the impact of these options would have been anti-dilutive. Stock options to purchase approximately 0.1 million and 0.4 million shares of common stock were outstanding during the nine months ended June 26, 2020 and June 28, 2019, respectively, but were not included in the calculation of diluted earnings per share as the impact of these options would have been anti-dilutive.