Earnings Per Share

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



	Three months ended
	April 1, 2018		March 26, 2017
Numerator:
Net income used in computing basic and diluted earnings per share	$	174,763	$	186,369
Denominator:
Denominator for basic earnings per share - weighted-average common shares	168,139		176,001
Effect of dilutive securities - employee stock compensation plan	1,035		1,069
Denominator for diluted earnings per share - adjusted weighted-average shares outstanding	169,174		177,070
Earnings per common share:
Basic	$	1.04	$	1.06
Diluted	$	1.03	$	1.05

Outstanding options to purchase 1.0 million and 0.8 million shares of common stock for the three months ended April 1, 2018 and March 26, 2017, respectively, were not included in the Company’s computation of dilutive securities because the exercise price was greater than the market price, and therefore, the effect would have been anti-dilutive.

The Company has a share-based compensation plan under which employees may be granted share-based awards including restricted stock units (RSUs). Non-forfeitable dividend equivalents are paid on unvested RSUs. As such, RSUs are considered participating securities under the two-class method of calculating earnings per share as described in ASC Topic 260, “Earnings per Share.” The two-class method of calculating earnings per share did not have a material impact on the Company’s earnings per share calculation for the three month periods ended April 1, 2018 and March 26, 2017.