EARNINGS PER SHARE

9 Months Ended

Sep. 28, 2024

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				Nine Months Ended
	September 28, 2024		September 30, 2023		September 28, 2024		September 30, 2023
Net income	$	56,284	$	42,657	$	122,535	$	91,292

Weighted-average common shares outstanding—basic	84,707		86,783		85,285		86,663
Effect of dilutive securities	785		806		754		627
Weighted-average common shares outstanding—diluted	85,492		87,589		86,039		87,290

Earnings per share
Basic	$	0.66	$	0.49	$	1.44	$	1.05
Diluted	$	0.66	$	0.49	$	1.42	$	1.05

Effects of potentially dilutive securities are presented only in periods in which they are dilutive. For each of the three and nine months ended September 28, 2024, outstanding stock-based awards representing less than 0.1 million shares of common stock were excluded from the calculation of diluted earnings per share, because their effect would be anti-dilutive. For the three and nine months ended September 30, 2023, outstanding stock-based awards representing 0.1 million and 0.2 million shares of common stock, respectively, were excluded from the calculation of diluted earnings, because their effect would be anti-dilutive.