Earnings Per Share

3 Months Ended

Apr. 03, 2022

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
	April 3, 2022	April 4, 2021
	(In thousands)
Number of common shares—basic	126,137	112,028
Effect of dilutive securities:
Stock options	339	359
Restricted stock awards	159	108
Number of common shares—diluted	126,635	112,495
Number of potentially dilutive securities excluded from calculation due to antidilutive impact	512	162

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.