6.Earnings Per Share

We compute earnings per share using the two-class method. The two-class method requires an earnings allocation formula that determines earnings per share for common shareholders and participating security holders according to dividends declared and participating rights in undistributed earnings. We consider time-based restricted stock awards to be participating securities because holders of such shares have non-forfeitable dividend rights. Under the two-class method, undistributed earnings allocated to participating securities are subtracted from net income attributable to the Company in determining net income attributable to common shareholders.

The calculations of basic and diluted earnings per common share are as follows (in thousands, except per-share data):


	Three Months Ended				Six Months Ended
	July 1,		June 25,		July 1,		June 25,
	2018		2017		2018		2017

Basic earnings per common share:
Net income attributable to the Company	$	11,791	$	23,538	$	28,528	$	51,966
Change in noncontrolling interest redemption value		—		662		—		1,182
Net income attributable to participating securities		(72)		(99)		(147)		(216)
Net income attributable to common shareholders	$	11,719	$	24,101	$	28,381	$	52,932

Weighted average common shares outstanding		31,941		36,732		32,610		36,771
Basic earnings per common share	$	0.37	$	0.66	$	0.87	$	1.44

Diluted earnings per common share:
Net income attributable to common shareholders	$	11,719	$	24,101	$	28,381	$	52,932

Weighted average common shares outstanding		31,941		36,732		32,610		36,771
Dilutive effect of outstanding equity awards (a)		234		485		250		512
Diluted weighted average common shares outstanding		32,175		37,217		32,860		37,283
Diluted earnings per common share	$	0.36	$	0.65	$	0.86	$	1.42

(a) Excludes 1,257 and 1,143 awards for the three and sixth months ended July 1, 2018, respectively, and 325 and 215 awards for the three and six months ended June 25, 2017, respectively, as the effect of including such awards would have been antidilutive.