Earnings Per Share

3 Months Ended

Mar. 29, 2016

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except for per share data):



	For the 13 Weeks Ended
	March 29, 2016		March 31, 2015
Amounts used for basic and diluted per share calculations:
Net income attributable to Panera Bread Company	$	35,088	$	31,860

Weighted average number of shares outstanding — basic	24,105		26,478
Effect of dilutive stock-based employee compensation awards	109		91
Weighted average number of shares outstanding — diluted	24,214		26,569

Earnings per common share:
Basic	$	1.46	$	1.20
Diluted	$	1.45	$	1.20

For each of the thirteen weeks ended March 29, 2016 and March 31, 2015, weighted-average outstanding stock options, restricted stock, and stock-settled appreciation rights of approximately 0.1 million shares were excluded in calculating diluted earnings per share as the exercise price exceeded fair market value and the inclusion of such shares would have been antidilutive.