Earnings Per Share

6 Months Ended

Jun. 28, 2020

The computation of basic and diluted earnings per share was as follows (in thousands, except per share amounts):


	Three months ended						Six months ended
	June 28, 2020		June 30, 2019		June 28, 2020		June 30, 2019
Net (loss) income	$	(92,217)	$	195,631	$	(22,522)	$	323,576

Basic weighted-average shares outstanding	153,199		158,813		153,103		159,061
Effect of dilutive securities – employee stock compensation plan	—		612		—		664
Diluted weighted-average shares outstanding	153,199		159,425		153,103		159,725
(Net loss) earnings per share:
Basic	$	(0.60)	$	1.23	$	(0.15)	$	2.03
Diluted	$	(0.60)	$	1.23	$	(0.15)	$	2.03

Shares of common stock related to share-based compensation that were not included in the effect of dilutive securities because the effect would have been anti-dilutive include 2.4 million and 1.2 million shares for the three months ended June 28, 2020 and June 30, 2019, respectively, and 2.4 million and 1.2 million shares for the six months ended June 28, 2020 and June 30, 2019, respectively.