Earnings Per Share

9 Months Ended

Oct. 01, 2022

Earnings Per Share [Abstract]

Earnings Per Share

Note 13 – 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				Nine fiscal months ended
	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
Numerator:
Net earnings attributable to Vishay stockholders	$	140,061	$	96,820	$	356,022	$	261,447
Denominator:
Denominator for basic earnings per share:
Weighted average shares		142,663		144,808		143,760		144,792
Outstanding phantom stock units		224		209		223		208
Adjusted weighted average shares		142,887		145,017		143,983		145,000
Effect of dilutive securities:
Convertible debt instruments		-		-		-		3
Restricted stock units		560		441		487		452
Dilutive potential common shares		560		441		487		455
Denominator for diluted earnings per share:
Adjusted weighted average shares - diluted		143,447		145,458		144,470		145,455
Basic earnings per share attributable to Vishay stockholders	$	0.98	$	0.67	$	2.47	$	1.80
Diluted earnings per share attributable to Vishay stockholders	$	0.98	$	0.67	$	2.46	$	1.80

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				Nine fiscal months ended
	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
Restricted stock units		168		317		278		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.