Earnings Per Share

6 Months Ended

Jun. 28, 2014

Earnings Per Share

(4) 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 28, 2014		June 29, 2013		June 28, 2014		June 29, 2013
Average number of common shares outstanding		45,171		46,380		44,935		46,253
Incremental shares from assumed exercises of stock options		191		175		193		133
Average number of common shares and common share equivalents outstanding		45,362		46,555		45,128		46,386

For each of the twenty-six-week and thirteen-week periods ended June 28, 2014, no options outstanding to purchase shares of common stock were antidilutive. For each of the twenty-six-week and thirteen-week periods ended June 29, 2013, there were 152,000 options outstanding to purchase shares of common stock excluded from the calculation of diluted earnings per share because they were antidilutive. Outstanding RSUs were excluded from the calculation of diluted earnings per share for all periods because the performance metric requirements for vesting had not been satisfied.