Earnings Per Share

9 Months Ended

Oct. 03, 2021

Earnings Per ShareBasic 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		Nine Months Ended
	October 3, 2021	October 4, 2020	October 3, 2021	October 4, 2020
	(In thousands)
Number of common shares—basic	114,508	111,684	112,836	111,378
Effect of dilutive securities:
Stock options	365	477	367	476
Restricted stock awards	149	131	104	81
Number of common shares—diluted	115,022	112,292	113,307	111,935
Number of potentially dilutive securities excluded from calculation due to antidilutive impact	90	—	237	294

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.