Earnings Per Share

3 Months Ended

Apr. 03, 2022

EARNINGS PER SHARE

We compute basic earnings per share (EPS) using net earnings for the period and the weighted average number of common shares outstanding during the period. Diluted EPS incorporates the additional shares issuable upon the assumed exercise of stock options and the release of restricted stock and restricted stock units (RSUs).

Basic and diluted weighted average shares outstanding were as follows (in thousands):



Three Months Ended	April 3, 2022	April 4, 2021
Basic weighted average shares outstanding	277,074	284,102
Dilutive effect of stock options and restricted stock/RSUs*	2,863	1,096
Diluted weighted average shares outstanding	279,937	285,198

* Excludes outstanding options to purchase shares of common stock that had exercise prices in excess of the average market price of our common stock during the period and, therefore, the effect of including these options would be antidilutive. These options totaled 2,086 and 8,298 for the three-month periods ended April 3, 2022, and April 4, 2021, respectively.