Net Income Per Share

Basic net income per share is based on the weighted effect of common shares issued and outstanding and is calculated by dividing net income by the basic weighted average shares outstanding during the period. Diluted net income per share is calculated by dividing net income by the weighted average number of common shares used in the basic net income per share calculation, plus the equivalent number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares outstanding. These potentially dilutive items consist primarily of outstanding stock options and restricted stock units.

The following table details the calculation of basic and diluted earnings per share for the three and six months ended September 29, 2018 and September 23, 2017 (in thousands, except per share amounts):

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	Three Months Ended				Six Months Ended
	September 29,		September 23,		September 29,		September 23,
	2018		2017		2018		2017
Numerator:
Net income	$	58,173	$	73,300	$	53,901	$	116,212
Denominator:
Weighted average shares outstanding	60,472		63,431		60,967		63,764
Effect of dilutive securities	1,959		2,929		1,843		2,997
Weighted average diluted shares	62,431		66,360		62,810		66,761
Basic earnings per share	$	0.96	$	1.16	$	0.88	$	1.82
Diluted earnings per share	$	0.93	$	1.10	$	0.86	$	1.74

The weighted outstanding shares excluded from our diluted calculation for the three and six months ended September 29, 2018 were 609 thousand and 1,277 thousand, respectively, as the shares were anti-dilutive. The weighted outstanding shares excluded from our diluted calculation for the three and six months ended September 23, 2017 were 236 thousand and 222 thousand, respectively, as the shares were anti-dilutive.