Earnings Per Share

3 Months Ended

Jun. 27, 2020

11.	Earnings Per Share

Basic net income per share (“EPS”) attributable to the Company was computed by dividing net income attributable to the Company by the average number of common shares outstanding during the period. Certain of the Company’s time-vesting restricted share awards are considered participating securities. Diluted earnings per common share is computed based on the more dilutive of: (i) the two-class method, assuming the participating securities are not exercised or converted; or (ii) the summation of average common shares outstanding and additional common shares that would have been outstanding if the dilutive potential common shares had been issued.

During the three months ended June 27, 2020 and the three months ended June 29, 2019, the two-class method was more dilutive. Securities that could potentially dilute basic EPS in the future that were considered antidilutive in the three months ended June 27, 2020 totaled 0.4 million. There were no antidilutive securities in the three months ended June 29, 2019.

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

	Three Months Ended
(Dollars and shares in thousands, except per share data)		June 27, 2020			June 29, 2019
Numerator:
Net income		$	11,903		$	17,380
Undistributed earnings allocated to participating securities			(30	)		(89	)
Net income attributable to the Company's common shareholders		$	11,873		$	17,291
Denominator:
Basic weighted-average shares outstanding			56,532			56,368
Dilutive securities			229			267
Diluted weighted-average shares outstanding			56,761			56,635

Basic net income per share		$	0.21		$	0.31
Diluted net income per share		$	0.21		$	0.31