XML 43 R11.htm IDEA: XBRL DOCUMENT v2.4.0.8
Earnings Per Share
 6 Months Ended
Mar. 29, 2014
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 (in thousands, except per share amounts): 
 
Three Months Ended
 
Six Months Ended
 
March 29,
2014
 
March 30,
2013
 
March 29,
2014
 
March 30,
2013
Basic and Diluted Earnings Per Share:
 
 
 
 
 
 
 
Net income
$
18,516

 
$
17,975

 
$
36,179

 
$
34,591

Basic weighted average common shares outstanding
33,868

 
34,286

 
33,799

 
34,253

Dilutive effect of share-based awards outstanding
835

 
408

 
899

 
420

Diluted weighted average shares outstanding
34,703

 
34,694

 
34,698

 
34,673

Earnings per share:
 
 
 
 
 
 
 
Basic
$
0.55

 
$
0.52

 
$
1.07

 
$
1.01

Diluted
$
0.53

 
$
0.52

 
$
1.04

 
$
1.00



For the three and six months ended March 29, 2014, stock options and stock-settled stock appreciation rights ("SARs") for approximately 0.5 million and 0.6 million shares, respectively, were not included in the computation of diluted earnings per share because the options' and stock-settled SARs' exercise prices were greater than the average market price of the Company's common shares and, therefore, their effect would be anti-dilutive.

For both the three and six months ended March 30, 2013, stock options and stock-settled SARs for approximately 2.3 million shares were not included in the computation of diluted earnings per share because the options' and stock-settled SARs' exercise prices were greater than the average market price of the Company's common shares and, therefore, their effect would be anti-dilutive.

The Company's stock repurchase programs impacted the number of shares outstanding for the three and six months ended March 29, 2014 as compared to the three and six months ended March 30, 2013. Refer to Note 12, "Shareholders' Equity" for further information on the Company's stock repurchase programs.