Earnings Per Share

12 Months Ended

Dec. 29, 2018

Earnings Per Share [Abstract]

Earnings Per Share

14.  Earnings Per Share

Basic earnings per share was calculated by dividing our net income by the weighted average number of common shares outstanding during the period, excluding nonvested restricted stock which is considered to be contingently issuable. To calculate diluted earnings per share, common share equivalents are added to the weighted average number of common shares outstanding.  Common share equivalents are calculated using the treasury stock method and are computed based on outstanding stock-based awards.  Stock-based awards of approximately 116,000 shares, 106,000 shares and 50,000 shares were excluded from the calculation of diluted earnings per share as of December 29, 2018, December 30, 2017 and December 31, 2016, respectively, as their effect would have been anti-dilutive.

The following table sets forth the computation of basic earnings per share and diluted earnings per share:

(in thousands, except per share data)	2018		2017		2016
Numerator:
Net income	$	133,602	$	106,599	$	106,049
Denominator:
Weighted average basic shares outstanding		33,097		33,964		34,516
Effect of  compensation awards		110		88		82
Weighted average diluted shares outstanding		33,207		34,052		34,598
Earnings Per Share:
Basic	$	4.04	$	3.14	$	3.07
Diluted	$	4.02	$	3.13	$	3.07