Earnings per Share (EPS) and Common Stock

EPS

Basic EPS is calculated by dividing net income by the weighted average number of shares outstanding during the period. Diluted EPS is calculated by dividing net income by the weighted average number of shares outstanding plus the dilutive effect, if any, of outstanding RSUs using the treasury stock method. The calculation of the dilutive effect of outstanding equity awards under the treasury stock method includes consideration of unrecognized compensation expense as additional proceeds.



	Three months ended
Calculation of Basic and Diluted EPS	December 29, 2018		December 30, 2017
	(in thousands, except per share data)
Net income	$	20,985	$	13,877
Weighted average shares outstanding—Basic	118,323		115,731
Dilutive effect of restricted stock units	1,315		1,925
Weighted average shares outstanding—Diluted	119,638		117,656
Earnings per share—Basic	$	0.18	$	0.12
Earnings per share—Diluted	$	0.18	$	0.12

There were no antidilutive shares for the three months ended December 29, 2018 and 0.3 million of antidilutive shares for the three months ended December 30, 2017.

Common Stock Repurchases

Our Articles of Organization authorize us to issue up to 500 million shares of our common stock.

Our Board of Directors has authorized us to repurchase up to $1,500 million of our common stock in the period October 1, 2017 through September 30, 2020. We did not repurchase any shares in the first quarter of either 2019 or 2018, but resumed repurchases in the second quarter of 2019 as described in Note 15. Subsequent Events. All shares of our common stock repurchased are automatically restored to the status of authorized and unissued.