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					Six months ended
Calculation of Basic and Diluted EPS	March 30, 2019			March 31, 2018		March 30, 2019			March 31, 2018
	(in thousands, except per share data)
Net income (loss)	$	(43,513	)	$	7,922	$	(22,528	)	$	21,799
Weighted average shares outstanding—Basic	118,461			116,241		118,392			115,986
Dilutive effect of restricted stock units	—			1,664		—			1,794
Weighted average shares outstanding—Diluted	118,461			117,905		118,392			117,780
Earnings (loss) per share—Basic	$	(0.37	)	$	0.07	$	(0.19	)	$	0.19
Earnings (loss) per share—Diluted	$	(0.37	)	$	0.07	$	(0.19	)	$	0.19

There were 23,000 anti-dilutive shares for the six months ended March 30, 2019. There were no anti-dilutive shares for the six months ended March 31, 2018.

Common Stock Repurchases

Our Articles of Organization authorize us to issue up to 500 million shares of our common stock.

Our Board of Directors has authorized us to repurchase up to $1,500 million of our common stock in the period October 1, 2017 through September 30, 2020. We repurchased $65.0 million of our common stock in the second quarter and first six months of 2019. We did not repurchase any shares in the second quarter and first six months of 2018. All shares of our common stock repurchased are automatically restored to the status of authorized and unissued.