Earnings per Share

6 Months Ended

Jul. 01, 2023

Basic and diluted earnings per share (EPS) were calculated as follows:


	Three Months Ended				Six Months Ended
	July 1, 2023		July 2, 2022		July 1, 2023		July 2, 2022
(In thousands, except per share amounts)
Net Income Attributable to Kadant	$	29,734	$	26,170	$	57,809	$	67,362

Basic Weighted Average Shares	11,704		11,660		11,693		11,645
Effect of Restricted Stock Units and Employee Stock Purchase Plan Shares	19		29		16		27
Diluted Weighted Average Shares	11,723		11,689		11,709		11,672

Basic Earnings per Share	$	2.54	$	2.24	$	4.94	$	5.78

Diluted Earnings per Share	$	2.54	$	2.24	$	4.94	$	5.77

The effect of outstanding and unvested restricted stock units (RSUs) of the Company's common stock totaling 26,000 shares in the second quarter of 2023, 8,000 shares in the second quarter of 2022, 32,000 shares in the first six months of 2023 and 13,000 shares in the first six months of 2022 were not included in the computation of diluted EPS for the respective periods as the effect would have been antidilutive or, for unvested performance-based RSUs, the performance conditions had not been met as of the end of the respective reporting periods.