Earnings Per Share

6 Months Ended

Jul. 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		Six Months Ended
	July 3, 2022	July 4, 2021	July 3, 2022	July 4, 2021
	(In thousands)
Number of common shares—basic	126,126	111,973	126,132	112,000
Effect of dilutive securities:
Stock options	259	344	316	352
Restricted stock awards	124	100	133	104
Number of common shares—diluted	126,509	112,417	126,581	112,456
Number of potentially dilutive securities excluded from calculation due to antidilutive impact	662	224	627	193

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.