Earnings Per Share

12 Months Ended

Sep. 28, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The following is a reconciliation of the amounts utilized in the computation of basic and diluted earnings per share for fiscal 2013, 2012 and 2011 (in thousands, except per share amounts):

	2013		2012		2011
Earnings:
Net income	$	82,259	$	62,089	$	89,256
Basic weighted average common shares outstanding	34,330		34,874		38,063
Dilutive effect of share-based awards outstanding	562		655		737
Diluted weighted average shares outstanding	34,892		35,529		38,800
Earnings per share:
Basic	$	2.40	$	1.78	$	2.34
Diluted	$	2.36	$	1.75	$	2.30

In fiscal 2013, 2012 and 2011, stock options and stock-settled stock appreciation rights (‘SARs”) to purchase approximately 1.9 million, 1.4 million and 1.3 million shares, respectively, were outstanding but were not included in the computation of diluted earnings per share because the options’ and SARs’ exercise prices were greater than the average market price of the Company's common shares and, therefore, their effect would be antidilutive.

Outstanding shares have decreased in recent years as a result of the Company's stock repurchase programs. Refer to Note 14, "Shareholders' Equity" for further information on the Company's stock repurchase programs.