Earnings Per Share

9 Months Ended

Sep. 30, 2023

NOTE 12. Earnings Per Share

Basic earnings per share is calculated using the weighted average number of shares of common stock outstanding during the period. Restricted stock units, employee stock purchase grants and stock options are included in the calculation of diluted earnings per share, except when their effect would be anti-dilutive.

The Company’s basic and diluted earnings per share amounts are as follows:


	Three Months Ended				Nine Months Ended
	September 30,		October 1,		September 30,		October 1,
	2023		2022		2023		2022
Numerator:
Net income	$	35,886	$	52,215	$	90,850	$	157,120
Denominator:
Basic earnings per share - weighted average shares outstanding		49,043		49,680		48,933		49,582
Effect of potential dilutive securities:
Employee stock options, employee stock purchase grants and restricted stock units - dilutive shares		358		269		326		346
Diluted earnings per share - weighted average shares outstanding		49,401		49,949		49,259		49,928
Earnings per share:
Basic	$	0.73	$	1.05	$	1.86	$	3.17
Diluted	$	0.73	$	1.05	$	1.84	$	3.15