Earnings Per Share

6 Months Ended

Jul. 02, 2022

Earnings Per Share [Abstract]

Earnings Per Share

Note 12 – Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share attributable to Vishay stockholders (shares in thousands):

	Fiscal quarters ended				Six fiscal months ended
	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Numerator:
Net earnings attributable to Vishay stockholders	$	112,388	$	93,192	$	215,961	$	164,627
Denominator:
Denominator for basic earnings per share:
Weighted average shares		143,773		144,808		144,305		144,784
Outstanding phantom stock units		223		209		222		208
Adjusted weighted average shares		143,996		145,017		144,527		144,992
Effect of dilutive securities:
Convertible debt instruments		-		-		-		5
Restricted stock units		401		428		451		456
Dilutive potential common shares		401		428		451		461
Denominator for diluted earnings per share:
Adjusted weighted average shares - diluted		144,397		145,445		144,978		145,453
Basic earnings per share attributable to Vishay stockholders	$	0.78	$	0.64	$	1.49	$	1.14
Diluted earnings per share attributable to Vishay stockholders	$	0.78	$	0.64	$	1.49	$	1.13

Diluted earnings per share for the periods presented do not reflect the following weighted average potential common shares that would have an antidilutive effect or have unsatisfied performance conditions (in thousands):

	Fiscal quarters ended				Six fiscal months ended
	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Restricted stock units		333		317		333		317

If the average market price of Vishay common stock is less than the effective conversion price of the convertible senior notes due 2025, no shares are included in the diluted earnings per share computation for the convertible senior notes due 2025.  Upon Vishay exercising its existing right to legally amend the indenture governing the convertible senior notes due 2025, Vishay will satisfy its conversion obligations by paying $1 cash per $1 principal amount of converted notes and settle any additional amounts due in common stock.  Accordingly, the notes are not anti-dilutive when the average market price of Vishay common stock is less than the effective conversion price of the convertible senior notes due 2025.