Earnings per Share (EPS) and Common Stock

6 Months Ended

Mar. 31, 2021

Earnings Per Share And Common Stock [Abstract]

Earnings per Share (EPS) and Common Stock

5. Earnings per Share (EPS) and Common Stock

EPS

The following table presents the calculation for both basic and diluted EPS:

(in thousands, except per share data)	Three months ended				Six months ended
	March 31, 2021		March 28, 2020		March 31, 2021		March 28, 2020
Net income	$	109,262	$	7,156	$	132,777	$	42,611
Weighted-average shares outstanding—Basic		116,777		115,606		116,587		115,401
Dilutive effect of restricted stock units		1,554		411		1,379		455
Weighted-average shares outstanding—Diluted		118,331		116,017		117,966		115,856
Earnings per share—Basic	$	0.94	$	0.06	$	1.14	$	0.37
Earnings per share—Diluted	$	0.92	$	0.06	$	1.13	$	0.37

Anti-dilutive shares were immaterial for the three and six months ended March 31, 2021, respectively, and there were 0.3 and 0.1 million anti-dilutive shares for the three and six months ended March 28, 2020, respectively.

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 billion of our common stock in the period October 1, 2020 through September 30, 2023. We did not repurchase any shares in the second quarter and first six months of 2021 or 2020. All shares of our common stock repurchased are automatically restored to the status of authorized and unissued.