Earnings Per Share

6 Months Ended

Jun. 28, 2016

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except for per share data):



	For the 13 Weeks Ended				For the 26 Weeks Ended
	June 28, 2016		June 30, 2015		June 28, 2016		June 30, 2015
Amounts used for basic and diluted per share calculations:
Net income attributable to Panera Bread Company	$	34,501	$	41,929	$	69,589	$	73,789

Weighted average number of shares outstanding — basic	23,569		26,158		23,838		26,319
Effect of dilutive stock-based employee compensation awards	133		117		122		104
Weighted average number of shares outstanding — diluted	23,702		26,275		23,960		26,423

Earnings per common share:
Basic	$	1.46	$	1.60	$	2.92	$	2.80
Diluted	$	1.46	$	1.60	$	2.90	$	2.79

For each of the thirteen and twenty-six weeks ended June 28, 2016 and June 30, 2015, weighted-average outstanding stock options, restricted stock, and stock-settled appreciation rights of approximately 0.1 million shares were excluded in calculating diluted earnings per share as the exercise price exceeded fair market value and the inclusion of such shares would have been antidilutive.