Earnings Per Share

6 Months Ended

Jul. 04, 2021

Basic earnings per share was computed by dividing net income by the weighted-average number of common shares outstanding during the period less restricted unvested shares. Diluted earnings per share was computed by dividing net income by the weighted-average number of common shares outstanding plus all potentially dilutive common stock equivalents, primarily shares issuable upon the exercise of stock options using the treasury stock method. The following table reconciles the number of shares utilized in the earnings per share calculations:


	Three Months Ended		Six Months Ended
	July 4, 2021	July 5, 2020	July 4, 2021	July 5, 2020
	(In thousands)
Number of common shares—basic	111,973	111,329	112,000	111,225
Effect of dilutive securities:
Stock options	344	470	352	475
Restricted stock awards	100	70	104	56
Number of common shares—diluted	112,417	111,869	112,456	111,756
Number of potentially dilutive securities excluded from calculation due to antidilutive impact	224	390	193	440

Antidilutive securities include outstanding stock options with exercise prices and average unrecognized compensation cost in excess of the average fair market value of common stock for the related period. Antidilutive options were excluded from the calculation of diluted net income per share and could become dilutive in the future.