Earnings Per Share

6 Months Ended

Jul. 01, 2018

Earnings (Loss) Per Share (Thousands of Dollars and Shares Except Per Share Data) [Abstract]

Earnings (Loss) Per Share

(4) Earnings (Loss) Per Share

Net earnings per share data for the quartersand six-month periods ended July 1,2018 and July 2,2017 were computed as follows:

	2018				2017
Quarter	Basic		Diluted		Basic		Diluted
Net earnings	$	60,299		60,299		67,723		67,723
Average shares outstanding		125,711		125,711		125,263		125,263
Effect of dilutive securities:
Options and other share-based awards		-		624		-		2,104
Equivalent Shares		125,711		126,335		125,263		127,367
Net earnings per common share	$	0.48		0.48		0.54		0.53

	2018				2017
Six Months	Basic		Diluted		Basic		Diluted
Net earnings (loss)	$	(52,193)		(52,193)		136,322		136,322
Average shares outstanding		125,392		125,392		125,221		125,221
Effect of dilutive securities:
Options and other share-based awards		-		-		-		2,075
Equivalent Shares		125,392		125,392		125,221		127,296
Net earnings (loss) per common share	$	(0.42)		(0.42)		1.09		1.07

For the quarters ended July 1,2018 and July 2,2017, options and restricted stock unitstotaling 1,214and 453, respectively, were excluded from the calculation of diluted earnings per sharebecause to include them would have beenantidilutive.For the six-month periods ended July 1,2018 and July 2,2017, options and restricted stock units totaling 3,127 and 546, respectively, were excluded from the calculation of diluted earnings per share because to include them would have been antidilutive. Of this amount 1,921 would have been included in the calculation of diluted shares had the Company not had a net loss in the six month period ended July 1, 2018. Assuming that these awards and options were included, under the treasury stock method, they would have resulted in an additional 823 shares being included in the diluted earnings per share calculation for the six month period ended July 1, 2018.