Earnings Per Share

6 Months Ended

Jul. 01, 2023

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 1, 2023		July 2, 2022		July 1, 2023		July 2, 2022
Numerator:
Net earnings attributable to Vishay stockholders	$	95,038	$	112,388	$	206,819	$	215,961
Denominator:
Denominator for basic earnings per share:
Weighted average shares		139,627		143,773		140,062		144,305
Outstanding phantom stock units		137		223		139		222
Adjusted weighted average shares		139,764		143,996		140,201		144,527
Effect of dilutive securities:
Restricted stock units		714		401		664		451
Dilutive potential common shares		714		401		664		451
Denominator for diluted earnings per share:
Adjusted weighted average shares - diluted		140,478		144,397		140,865		144,978
Basic earnings per share attributable to Vishay stockholders	$	0.68	$	0.78	$	1.48	$	1.49
Diluted earnings per share attributable to Vishay stockholders	$	0.68	$	0.78	$	1.47	$	1.49

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 1, 2023		July 2, 2022		July 1, 2023		July 2, 2022
Restricted stock units		318		333		159		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.