Earnings Per Share

9 Months Ended

Sep. 24, 2016

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):

	Thirty Nine Weeks Ended				Thirteen Weeks Ended
	September 24, 2016		September 26, 2015		September 24, 2016		September 26, 2015
Average number of common shares outstanding		42,223		43,975		42,039		43,446
Incremental shares from assumed exercises of stock options		118		159		131		161
Average number of common shares and common share equivalents outstanding		42,341		44,134		42,170		43,607

For each of the thirty-nine-week and thirteen-week periods ended September 24, 2016 and September 26, 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.