Earnings Per Share

6 Months Ended

Sep. 26, 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 and six months ended September 26, 2020 and September 28, 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 and six months ended September 26, 2020 totaled 0.3 million and 0.4 million, respectively. There were no antidilutive securities in the three and six months ended September 28, 2019.

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

	Three Months Ended						Six Months Ended
(Dollars and shares in thousands, except per share data)	September 26, 2020			September 28, 2019				September 26, 2020			September 28, 2019
Numerator:
Net income	$	17,511		$	17,745			$	29,414		$	35,125
Undistributed earnings allocated to participating securities		(19	)		(65	)			(53	)		(154	)
Net income attributable to the Company's common shareholders	$	17,492		$	17,680			$	29,361		$	34,971
Denominator:
Basic weighted-average shares outstanding		56,654			56,481				56,593			56,424
Dilutive securities		255			243				238			233
Diluted weighted-average shares outstanding		56,909			56,724				56,831			56,657

Basic net income per share	$	0.31		$	0.31			$	0.52		$	0.62
Diluted net income per share	$	0.31		$	0.31			$	0.52		$	0.62