Earnings Per Share

6 Months Ended

Jul. 05, 2020

Basic earnings per share was computed by dividing net income by the weighted-average number of common shares outstanding during the period less restricted unvested shares. Diluted earnings per share was computed by dividing net income by the weighted-average number of common shares outstanding plus all potentially dilutive common stock equivalents, primarily shares issuable upon the exercise of stock options using the treasury stock method. The following table reconciles the number of shares utilized in the earnings per share calculations:


	Three Months Ended			Six Months Ended
	July 5, 2020	June 30, 2019	July 5, 2020	June 30, 2019
	(In thousands)
Number of common shares—basic	111,329	110,845	111,225	110,694
Effect of dilutive securities:
Stock options	470	559	475	595
Restricted stock awards	70	124	56	122
Number of common shares—diluted	111,869	111,528	111,756	111,411
Number of potentially dilutive securities excluded from calculation due to antidilutive impact	390	291	440	388

Antidilutive securities include outstanding stock options with exercise prices and average unrecognized compensation cost in excess of the average fair market value of common stock for the related period. Antidilutive options were excluded from the calculation of diluted net income per share and could become dilutive in the future.