EQUITY

Earnings Per Share

The following table reconciles the numerator and denominator in the computations of basic and diluted earnings per share:



	Three Months Ended					Nine Months Ended
	September 24, 2016		September 26, 2015			September 24, 2016		September 26, 2015
	(in thousands)
Numerator:
Income from continuing operations, net of income taxes	$	37,691	$	37,901		$	110,811	$	118,774
Income (loss) from discontinued operations, net of income taxes	342		(34		)	328		(48		)
Less: Net income attributable to noncontrolling interests	298		488			1,054		1,297
Net income attributable to common shareholders	$	37,735	$	37,379		$	110,085	$	117,429

Denominator:
Weighted-average shares outstanding - Basic	47,160		46,290			46,954		46,572
Effect of dilutive securities:
Stock options, restricted stock units, performance share units and restricted stock	874		955			884		1,012
Weighted-average shares outstanding - Diluted	48,034		47,245			47,838		47,584

Options to purchase approximately 0.6 million and 0.5 million shares for the three months ended September 24, 2016 and September 26, 2015, respectively, as well as an insignificant number of restricted stock, restricted stock units (RSUs), and performance share units (PSUs), were not included in computing diluted earnings per share because their inclusion would have been anti-dilutive. Options to purchase approximately 0.9 million and 0.5 million shares for the nine months ended September 24, 2016 and September 26, 2015, respectively, as well as an insignificant number of restricted stock, RSUs, and PSUs, were not included in computing diluted earnings per share because their inclusion would have been anti-dilutive. Basic weighted average shares outstanding for both the nine months ended September 24, 2016 and September 26, 2015 excluded the impact of approximately 1.1 million shares of non-vested restricted stock and restricted stock units.

Treasury Shares

During the nine months ended September 24, 2016, the Company did not repurchase any shares under its authorized stock repurchase program. The Company repurchased approximately 1.5 million shares for $108.8 million in the nine months ended September 26, 2015. As of September 24, 2016, the Company had $69.7 million remaining on the authorized stock repurchase program. The Company’s stock-based compensation plans permit the netting of common stock upon vesting of restricted stock, RSUs, and PSUs in order to satisfy individual minimum statutory tax withholding requirements. During the nine months ended September 24, 2016 and September 26, 2015, the Company acquired approximately 0.2 million shares for $12.2 million and approximately 0.1 million shares for $8.7 million, respectively.

Accumulated Other Comprehensive Income

Changes to each component of accumulated other comprehensive income, net of income taxes, are as follows:



	Foreign Currency Translation Adjustment and Other			Pension and Other Post-Retirement Benefit Plans			Total
	(in thousands)
December 26, 2015	$	(82,977	)	$	(52,571	)	$	(135,548	)
Other comprehensive loss before reclassifications	(31,735		)	—			(31,735		)
Amounts reclassified from accumulated other comprehensive income (loss)	—			1,961			1,961
Net current period other comprehensive income	(31,735		)	1,961			(29,774		)
Income tax expense	—			424			424
September 24, 2016	$	(114,712	)	$	(51,034	)	$	(165,746	)

Foreign currency translation and other includes an insignificant amount of unrealized gains (losses) on available-for-sale marketable securities.

Nonredeemable Noncontrolling Interests

The Company has investments in several entities whose financial results are consolidated in the Company’s financial statements, as it has a controlling financial interest in these entities. The interests of the respective noncontrolling parties in these entities have been recorded as noncontrolling interests. The activity within the nonredeemable noncontrolling interests was insignificant during the three and nine months ended September 24, 2016 and September 26, 2015.