Earnings Per Share

6 Months Ended

Jun. 29, 2019

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Basic and diluted weighted-average shares outstanding are as follows: 

	Six Months Ended		Three Months Ended
(In thousands)	June 29, 2019	June 30, 2018	June 29, 2019	June 30, 2018
Weighted Average Shares - Basic	32,640	32,298	32,665	32,313
Net Effect of Dilutive Stock Options	553	770	510	809
Weighted Average Shares - Diluted	33,193	33,068	33,175	33,122

The above prior-year information has been adjusted to reflect the impact of the three-for-twenty Class B stock distribution to shareholders of record on October 12, 2018.

Stock options with exercise prices greater than the average market price of the underlying common shares are excluded from the computation of diluted earnings per share because they are out-of-the-money and the effect of their inclusion would be anti-dilutive. The number of common shares covered by out-of-the-money stock options was approximately 18,000 shares as of June 29, 2019 and 160,000 shares as of June 30, 2018.