EARNINGS PER SHARE

6 Months Ended

Dec. 28, 2016

Basic net income per share is computed by dividing net income by the weighted average number of common shares outstanding for the reporting periods. Diluted net income per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the calculation of diluted net income per share, the basic weighted average number of shares is increased by the dilutive effect of stock options and restricted share awards determined using the treasury stock method. Stock options and restricted share awards with an anti-dilutive effect are not included in the diluted net income per share calculation.

Basic weighted average shares outstanding is reconciled to diluted weighted average shares outstanding as follows (in thousands):



	Thirteen Week Periods Ended		Twenty-Six Week Periods Ended
	December 28, 2016	December 23, 2015	December 28, 2016	December 23, 2015
Basic weighted average shares outstanding	49,833	59,198	52,339	59,712
Dilutive stock options	223	314	235	356
Dilutive restricted shares	424	387	454	485
	647	701	689	841
Diluted weighted average shares outstanding	50,480	59,899	53,028	60,553

Awards excluded due to anti-dilutive effect on diluted net income per share	890	682	959	519