Earnings per Share (EPS) and Common Stock

EPS

Basic EPS is calculated by dividing net income by the weighted average number of shares outstanding during the period. Diluted EPS is calculated by dividing net income by the weighted average number of shares outstanding plus the dilutive effect, if any, of outstanding RSUs using the treasury stock method. The calculation of the dilutive effect of outstanding equity awards under the treasury stock method includes consideration of unrecognized compensation expense as additional proceeds.



	Three months ended
Calculation of Basic and Diluted EPS	December 30, 2017		December 31, 2016
	(in thousands, except per share data)
Net income (loss)	$	13,877	$	(9,141	)
Weighted average shares outstanding—Basic	115,731		115,290
Dilutive effect of restricted stock units	1,925		—
Weighted average shares outstanding—Diluted	117,656		115,290
Earnings (loss) per share—Basic	$	0.12	$	(0.08	)
Earnings (loss) per share—Diluted	$	0.12	$	(0.08	)

Total antidilutive shares were 0.3 million and 1.8 million for the three months ended December 30, 2017 and December 31, 2016, respectively. For the three months ended December 31, 2016 the diluted net loss per share is the same as the basic net loss per share as the effects of all of our potential common stock equivalents are antidilutive.

Common Stock Repurchases

Our Articles of Organization authorize us to issue up to 500 million shares of our common stock. Our Board of Directors periodically authorizes the repurchase of shares of our common stock. Our Board of Directors has authorized us to repurchase up to $500 million of our common stock from October 1, 2017 through September 30, 2020. We did not repurchase any shares in the first quarter of either 2018 or 2017. All shares of our common stock repurchased are automatically restored to the status of authorized and unissued.