Average Shares Outstanding

12 Months Ended

Oct. 03, 2021

Weighted Average Number of Shares Outstanding, Diluted [Abstract]

Average Shares Outstanding

AVERAGE SHARES OUTSTANDING

Our basic earnings per share calculation is computed based on the weighted-average number of common shares outstanding. Our diluted earnings per share calculation is computed based on the weighted-average number of common shares outstanding adjusted by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued. Potentially dilutive common shares include nonvested stock awards and units, stock options, and non-management director stock equivalents. Performance share awards are included in the average diluted shares outstanding each period if the performance criteria have been met at the end of the respective periods.

The following table reconciles basic weighted-average shares outstanding to diluted weighted-average shares outstanding in each fiscal year (in thousands):

	2021	2020	2019
Weighted-average shares outstanding — basic	22,402	23,125	25,823
Effect of potentially dilutive securities:
Nonvested stock awards and units	62	137	211
Stock options	9	—	10
Performance share awards	5	7	24
Weighted-average shares outstanding — diluted	22,478	23,269	26,068
Excluded from diluted weighted-average shares outstanding:
Antidilutive	29	318	186
Performance conditions not satisfied at the end of the period	25	14	65