EARNINGS PER SHARE

9 Months Ended

Sep. 26, 2020

Basic income per share is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted income per share includes the additional effect of all potentially dilutive securities, which includes dilutive stock-based awards granted under stock-based compensation plans.

The following table sets forth the calculation of earnings per share and weighted-average common shares outstanding at the dates indicated (in thousands, except per share data):


	Three Months Ended				Nine Months Ended
	September 26, 2020		September 28, 2019		September 26, 2020		September 28, 2019
Net income	$	51,445	$	21,302	$	93,407	$	45,692

Weighted-average common shares outstanding—basic	87,032		85,285		86,933		84,686
Effect of dilutive securities	1,062		1,088		744		1,466
Weighted-average common shares outstanding—diluted	88,094		86,373		87,677		86,152

Earnings per share
Basic	$	0.59	$	0.25	$	1.07	$	0.54
Diluted	$	0.58	$	0.25	$	1.07	$	0.53

Effects of potentially dilutive securities are presented only in periods in which they are dilutive. For the three months ended September 26, 2020 and September 28, 2019, outstanding stock-based awards representing less than 0.1 million and 0.6 million shares, respectively, of common stock were excluded from the calculation of diluted earnings per share, because their effect would be anti-dilutive. For the nine months ended September 26, 2020 and September 28, 2019, outstanding stock-based awards representing 0.2 million and 0.9 million shares, respectively, of common stock were excluded from the calculation of diluted earnings, because their effect would be anti-dilutive. In addition, 1.3 million and 1.4 million shares of performance-based RSUs were excluded from the calculations of diluted earnings per share for the three and nine months ended September 28, 2019 because these units were not considered to be contingent outstanding shares.