Average Shares Outstanding

12 Months Ended

Oct. 02, 2022

Weighted Average Number of Shares Outstanding, Diluted [Abstract]

Average Shares Outstanding

AVERAGE SHARES OUTSTANDINGOur 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):

	2022	2021	2020
Weighted-average shares outstanding — basic	21,195	22,402	23,125
Effect of potentially dilutive securities:
Nonvested stock awards and units	47	62	137
Stock options	1	9	—
Performance share awards	2	5	7
Weighted-average shares outstanding — diluted	21,245	22,478	23,269
Excluded from diluted weighted-average shares outstanding:
Antidilutive	23	29	318
Performance conditions not satisfied at the end of the period	61	25	14