Earnings Per Share

3 Months Ended

Apr. 01, 2023

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
	April 1, 2023		April 2, 2022

Numerator:
Net earnings attributable to Vishay stockholders	$	111,781	$	103,573

Denominator:
Denominator for basic earnings per share:
Weighted average shares		140,496		144,832
Outstanding phantom stock units		140		221
Adjusted weighted average shares - basic		140,636		145,053

Effect of dilutive securities:
Restricted stock units		615		500
Dilutive potential common shares		615		500

Denominator for diluted earnings per share:
Adjusted weighted average shares - diluted		141,251		145,553

Basic earnings per share attributable to Vishay stockholders	$	0.79	$	0.71

Diluted earnings per share attributable to Vishay stockholders	$	0.79	$	0.71

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
	April 1, 2023		April 2, 2022
Restricted stock units		-		333

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.