Earnings Per Share

6 Months Ended

Jun. 29, 2013

Earnings Per Share

(3) Earnings Per Share

Earnings per common share are based on the weighted average number of shares outstanding, including outstanding non-vested restricted stock. Diluted earnings per share are based on the weighted average number of common shares outstanding plus the incremental shares that would have been outstanding upon the assumed exercise of all dilutive stock options.

The following table provides a reconciliation of the average number of common shares outstanding used to calculate earnings per common share to the average number of common shares and common share equivalents outstanding used to calculate diluted earnings per share (in thousands):

	Twenty Six Weeks Ended				Thirteen Weeks Ended
	June 29, 2013		June 30, 2012		June 29, 2013		June 30, 2012
Average number of common shares outstanding		46,380		46,856		46,253		46,915
Incremental shares from assumed exercises of stock options		175		227		133		189
Average number of common shares and common share equivalents outstanding		46,555		47,083		46,386		47,104

For each of the twenty-six-week and thirteen-week periods ended June 29, 2013, 152,000 options outstanding to purchase shares of common stock were excluded from the calculation of diluted earnings per share because they were antidilutive. For each of the twenty-six-week and thirteen-week periods ended June 30, 2012, 2,000 options outstanding to purchase shares of common stock were excluded from the calculation of diluted earnings per share because they were antidilutive. For the twenty-six-week periods and thirteen-week periods ended June 29, 2013 and June 30, 2012, outstanding RSUs were excluded from the calculation of diluted earnings per share because the performance metric requirements for vesting had not been satisfied.