Earnings Per Share

3 Months Ended

Mar. 31, 2019

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

(3) Earnings (Loss) Per Share

Net earnings (loss) per share data for the quarters ended March 31, 2019 and April 1, 2018 were computed as follows:

	2019				2018
Quarter	Basic		Diluted		Basic		Diluted
Net earnings (loss)	$	26,727		26,727		(112,492)		(112,492)

Average shares outstanding		126,287		126,287		125,073		125,073
Effect of dilutive securities:
Options and other share-based awards		-		529		-		-
Equivalent Shares		126,287		126,816		125,073		125,073

Net earnings (loss) per common share	$	0.21		0.21		(0.90)		(0.90)

For the quarters ended March 31, 2019 and April 1, 2018, options and restricted stock units totaling 1,693 and 3,191, respectively, were excluded from the calculation of diluted earnings per share because to include them would have been anti-dilutive. Of the 2018 amount 1,993 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.