Earnings Per Share

3 Months Ended

Apr. 01, 2018

Earnings (Loss) Per Share (Thousands of Dollars and Shares Except Per Share Data) [Abstract]

Earnings (Loss) Per Share

(3) Earnings (Loss) Per Share

Net earnings (loss) per share data for the quarters ended April 1,2018 and April 2,2017 were computed as follows:

	2018				2017
Quarter	Basic		Diluted		Basic		Diluted
Net earnings (loss)	$	(112,492)		(112,492)		68,599		68,599
Average shares outstanding		125,073		125,073		125,182		125,182
Effect of dilutive securities:
Options and other share-based awards		-		-		-		2,047
Equivalent Shares		125,073		125,073		125,182		127,229
Net earnings (loss) per common share	$	(0.90)		(0.90)		0.55		0.54

For the quarters ended April 1,2018 and April 2,2017, options and restricted stock units totaling 3,191 and 638, respectively, were excluded from the calculation of diluted earnings per share because to include them would have been antidilutive. Of this amount1,993 would have been included in the calculation of diluted shares had the Company not had a net loss in the first quarter of 2018. Assuming that these awards and options were included, under the treasury stock method, they would have resulted in an additional 1,022 shares being included in the diluted earnings per share calculation for the quarter ended April 1, 2018.