Earnings Per Share

3 Months Ended

Apr. 04, 2021

For the first quarter of 2021, no stock options were excluded in the computation of diluted earnings per share. For the first quarter of 2020, 246,453 stock options were excluded in the computation of earnings per share because they had exercise prices that were greater than the weighted average market price of the Company’s common stock price during the period. The weighted average number of common shares used in the calculation of basic and diluted earnings per share consisted of the following (in millions):


	First Quarter
	2021	2020

Weighted average basic common shares outstanding	37.0	36.6
Effect of dilutive securities (primarily stock options)	1.0	1.2
Weighted average diluted common shares outstanding	38.0	37.8