Earnings Per Share

3 Months Ended

Mar. 26, 2016

(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):


	Thirteen Weeks Ended
	March 26, 2016		March 28, 2015
Average number of common shares outstanding		42,395		44,588
Incremental shares from assumed exercises of stock options		94		172

Average number of common shares and common share equivalents outstanding		42,489		44,760

For each of the thirteen-week periods ended March 26, 2016 and March 28, 2015, no options outstanding to purchase shares of common stock were antidilutive. Outstanding RSUs were excluded from the calculation of diluted earnings per share for all periods because the performance metric requirements or market condition for vesting had not been satisfied.