EARNINGS PER SHARE

9 Months Ended

Mar. 23, 2016

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding for the reporting periods. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the calculation of diluted earnings per share, the basic weighted average number of shares is increased by the dilutive effect of stock options and restricted share awards determined using the treasury stock method. Stock options and restricted share awards with an anti-dilutive effect are not included in the diluted earnings per share calculation.

Basic weighted average shares outstanding is reconciled to diluted weighted average shares outstanding as follows (in thousands):



	Thirteen Week Periods Ended		Thirty-Nine Week Periods Ended
	March 23, 2016	March 25, 2015	March 23, 2016	March 25, 2015
Basic weighted average shares outstanding	56,673	62,891	58,699	63,719
Dilutive stock options	297	525	337	617
Dilutive restricted shares	437	675	469	772
	734	1,200	806	1,389
Diluted weighted average shares outstanding	57,407	64,091	59,505	65,108

Awards excluded due to anti-dilutive effect on earnings per share	561	19	533	234