Earnings Per Share

9 Months Ended

Sep. 27, 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):

	Thirty Nine Weeks Ended				Thirteen Weeks Ended
	September 27, 2014		September 28, 2013		September 27, 2014		September 28, 2013
Average number of common shares outstanding		45,018		46,156		44,713		45,708
Incremental shares from assumed exercises of stock options		204		167		224		148
Average number of common shares and common share equivalents outstanding		45,222		46,323		44,937		45,856

For each of the thirty-nine-week and thirteen-week periods ended September 27, 2014, no options outstanding to purchase shares of common stock were antidilutive. For each of the thirty-nine-week and thirteen-week periods ended September 28, 2013, there were 149,000 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.