Average Shares Outstanding

12 Months Ended

Oct. 01, 2023

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):

	2023	2022	2021
Weighted-average shares outstanding — basic	20,603	21,195	22,402
Effect of potentially dilutive securities:
Nonvested stock awards and units	134	47	62
Stock options	1	1	9
Performance share awards	26	2	5
Weighted-average shares outstanding — diluted	20,764	21,245	22,478
Excluded from diluted weighted-average shares outstanding:
Antidilutive	25	23	29
Performance conditions not satisfied at the end of the period	81	61	25