Earnings Per Share

6 Months Ended

Jun. 27, 2021

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 27, 2021		June 28, 2020		June 27, 2021		June 28, 2020
Net income (loss)	$	206,340	$	(92,217)	$	465,484	$	(22,522)

Basic weighted-average shares outstanding	153,748		153,199		153,616		153,103
Effect of dilutive securities – employee stock compensation plan	1,345		—		1,178		—
Diluted weighted-average shares outstanding	155,093		153,199		154,794		153,103
Net earnings (loss) per share:
Basic	$	1.34	$	(0.60)	$	3.03	$	(0.15)
Diluted	$	1.33	$	(0.60)	$	3.01	$	(0.15)

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 0.5 million and 2.4 million shares for the three months ended June 27, 2021 and June 28, 2020, respectively, and 0.5 million and 2.4 million shares for the six months ended June 27, 2021 and June 28, 2020, respectively.