Earnings per share

9 Months Ended

Apr. 03, 2021

Earnings per share

Earnings per share

13. Earnings per share

	Third Quarters Ended				Nine Months Ended
	April 3,		March 28,		April 3,		March 28,
	2021		2020		2021		2020
	(Thousands, except per share data)
Numerator:
Net income (loss)	$	107,484	$	(128,661)	$	107,759	$	(83,242)
Denominator:
Weighted average common shares for basic earnings per share		99,542		99,479		99,125		101,013
Net effect of dilutive stock-based compensation awards		705		—		888		—
Weighted average common shares for diluted earnings per share		100,247		99,479		100,013		101,013
Basic earnings (loss) per share	$	1.08	$	(1.29)	$	1.09	$	(0.82)
Diluted earnings (loss) per share	$	1.07	$	(1.29)	$	1.08	$	(0.82)
Stock options excluded from earnings per share calculation due to anti-dilutive effect		642		1,431		793		1,018

For the three and nine months ended March 28, 2020, the diluted net loss per share is the same as basic net loss per share as the effect of all potential common shares would be anti-dilutive.