Earnings Per Share

12 Months Ended

Sep. 27, 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 for fiscal 2014, 2013 and 2012 (in thousands, except per share amounts):

	2014		2013		2012
Earnings:
Net income	$	87,213	$	82,259	$	62,089
Basic weighted average common shares outstanding	33,785		34,330		34,874
Dilutive effect of share-based awards outstanding	870		562		655
Diluted weighted average shares outstanding	34,655		34,892		35,529
Earnings per share:
Basic	$	2.58	$	2.40	$	1.78
Diluted	$	2.52	$	2.36	$	1.75

In fiscal 2014, 2013 and 2012, stock options and stock-settled stock appreciation rights ("SARs”) to purchase approximately 0.5 million, 1.9 million and 1.4 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.