12. Net Income per Share

CRA calculates basic and diluted earnings per common share using the two-class method. Under the two-class method, net earnings are allocated to each class of common stock and participating security as if all of the net earnings for the period had been distributed. CRA's participating securities consist of unvested share-based payment awards that contain a nonforfeitable right to receive dividends and therefore are considered to participate in undistributed earnings with common shareholders. Basic earnings per common share excludes dilution and is calculated by dividing net earnings allocable to common shares by the weighted-average number of common shares outstanding for the period. Diluted earnings per common share is calculated by dividing net earnings allocable to common shares by the weighted-average number of common shares as of the balance sheet date, as adjusted for the potential dilutive effect of non-participating share-based awards. Net earnings allocable to these participating securities were not significant for each of the third quarter and year-to-date period of fiscal 2014. For each of the fiscal quarter and year-to-date period ended October 3, 2015, the following is a reconciliation of the numerators and denominators used in the calculation of basic net income per share (in thousands, except per share data):

For the Quarter Ended October 3, 2015
	Amount			Shares			Per Share Amount
Net income attributable to CRA International, Inc.	$	2,860			9,008
Less: net income attributable to CRA International, Inc. allocated to unvested shares		(22	)		(68	)

Net income attributable to CRA International, Inc. allocated to common shares; and basic earnings per common share		2,838			8,940		$	0.32
Add: net income attributable to CRA International, Inc. allocated to unvested shares.		22
Less: undistributed earnings reallocated to unvested shares		(21	)
Dilutive effect of non-participating share-based awards					85

Net income attributable to CRA International, Inc. allocated to common shares; and diluted earnings per common share	$	2,839			9,025		$	0.31

For the Year to Date Period Ended October 3, 2015
	Amount			Shares			Per Share Amount
Net income attributable to CRA International, Inc.	$	8,964			9,125
Less: net income attributable to CRA International, Inc.allocated to unvested shares		(69	)		(70	)
Net income attributable to CRA International, Inc. allocated to common shares; and basic earnings per common share		8,895			9,055		$	0.98
Add: net income attributable to CRA International, Inc. allocated to unvested shares.		69
Less: undistributed earnings reallocated to unvested shares		(66	)
Dilutive effect of non-participating share-based awards					127

Net income attributable to CRA International, Inc. allocated to common shares; and diluted earnings per common share	$	8,898			9,182		$	0.97

For the third quarter and fiscal-year-to-date period ended October 3, 2015, the anti-dilutive share based awards that were excluded from the calculation of common stock equivalents for purposes of computing diluted weighted average shares outstanding amounted to 431,992 and 398,382 shares, respectively. For the third quarter and fiscal year-to-date period ended September 27, 2014, certain share-based awards, which amounted to 319,564 and 831,975 shares, respectively, were excluded from the calculation of common stock equivalents for purposes of computing diluted weighted average shares outstanding because they were anti-dilutive. These share-based awards for all of these periods were anti-dilutive because their exercise price exceeded the average market price over the respective period.

On August 10, 2012, February 13, 2014, and October 23, 2014, CRA's Board of Directors authorized the repurchase of up to $5.0 million, $15.0 million, and $30.0 million, respectively, of CRA's common stock. Repurchases under these programs are discretionary and CRA may make such repurchases under any of these programs in the open market (including under any Rule 10b5-1 plan adopted by CRA) or in privately negotiated transactions, in each case in accordance with applicable insider trading and other securities laws and regulations. CRA records the retirement of its repurchased shares as a reduction to common stock. During the third quarter and fiscal year-to-date period ended October 3, 2015, CRA repurchased and retired 125,000 shares and 388,800 shares, respectively, under these share repurchase programs at an average price per share of $22.76 and $27.83, respectively. During the third quarter and fiscal year-to-date period ended September 27, 2014, CRA repurchased and retired 279,094 shares and 531,694 shares, respectively, under these share repurchase programs at an average price per share of $25.73 and $23.91, respectively. There was approximately $10.1 million available for future repurchases under these programs as of October 3, 2015.