EARNINGS PER SHARE

3 Months Ended

Apr. 01, 2023

Basic income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted income per share includes the effect of all potentially dilutive securities, which include dilutive stock options and other stock-based awards.

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
	April 1, 2023		April 2, 2022
Net income	$	10,564	$	25,659

Weighted-average common shares outstanding—basic	86,529		87,368
Effect of dilutive securities	557		855
Weighted-average common shares outstanding—diluted	87,086		88,223

Earnings per share
Basic	$	0.12	$	0.29
Diluted	$	0.12	$	0.29

Effects of potentially dilutive securities are presented only in periods in which they are dilutive. For the three months ended April 1, 2023 and April 2, 2022, outstanding stock-based awards representing 0.3 million and less than 0.1 million shares of common stock, respectively, were excluded from the calculation of diluted earnings per share, because their effect would be anti-dilutive.