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Earnings Per Share (Tables)
12 Months Ended
Apr. 02, 2022
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings per Common Share

The following table sets forth the computation of basic and diluted earnings per common share:

 

 

Year Ended

 

(Dollars and shares in thousands, except per share data)

 

April 2,
2022

 

 

April 3,
2021

 

 

March 28,
2020

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income

 

$

248,044

 

 

$

84,899

 

 

$

58,160

 

Undistributed earnings allocated to participating securities

 

 

 

 

 

(77

)

 

 

(170

)

Net income attributable to the Company's common shareholders

 

$

248,044

 

 

$

84,822

 

 

$

57,990

 

Denominator:

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

 

56,816

 

 

 

56,648

 

 

 

56,516

 

Dilutive securities

 

 

490

 

 

 

325

 

 

 

246

 

Diluted weighted average shares outstanding

 

 

57,306

 

 

 

56,973

 

 

 

56,762

 

Basic net income per share:

 

$

4.37

 

 

$

1.50

 

 

$

1.03

 

Diluted net income per share:

 

$

4.33

 

 

$

1.49

 

 

$

1.02

 

Schedule of Antidilutive Securities

Securities that could potentially dilute basic EPS in the future that were considered antidilutive in the periods presented are shown below:

Type of security (in thousands)

 

April 2,
2022

 

 

April 3,
2021

 

Options

 

$

253

 

 

$

62

 

Restricted Share Units

 

 

86

 

 

 

81

 

Performance Share Units

 

 

151

 

 

 

182

 

Total dilutive securities

 

$

490

 

 

$

325