Common Stock And Earnings Per Share

9 Months Ended

Oct. 01, 2016

Common Stock And Earnings Per Share [Abstract]

Common Stock And Earnings Per Share

NOTE H— COMMON STOCK AND EARNINGS PER SHARE

Basic earnings per share are based on the weighted-average number of shares outstanding for each period. Shares that have been repurchased and retired during the periods specified below have been included in the calculation of the number of weighted-average shares that are outstanding for the calculation of basic earnings per share based on the time they were outstanding in any period. Diluted earnings per common share are based on shares that are outstanding (computed under basic EPS) and on potentially dilutive shares. Shares that are included in the diluted earnings per share calculations under the treasury stock method include equity awards that are in-the-money but have not yet been exercised.

The following is a reconciliation of the numerator and denominator used to calculate basic earnings per share and diluted earnings per share for the periods indicated:

	Quarter Ended		Nine Months Ended
	October 3,	October 1,	October 3,	October 1,
	2015	2016	2015	2016
Net earnings available to common shareholders	$             25,609	$             30,098	$             70,705	$             78,159
Weighted average common shares outstanding - basic	12,852	12,089	12,747	12,056
Dilutive effect of in-the-money equity awards	465	436	462	469
Weighted average common shares outstanding - diluted	13,317	12,525	13,209	12,525
Earnings per common share from net earnings - basic	$                1.99	$                2.49	$                5.55	$                6.48
Earnings per common share from net earnings - diluted	$                1.92	$                2.40	$                5.35	$                6.24
Equity awards for the following shares were not included in the computation of diluted EPS due to the fact that
their effect would be anti-dilutive:
	Quarter Ended		Nine Months Ended
	October 3,	October 1,	October 3,	October 1,
	2015	2016	2015	2016
	361	1,154	196	1,118

During the nine months ended October 1, 2016, the Company repurchased and retired 553 shares, for $64,610, under the Company’s share repurchase plan.  The excess of the repurchase price over par value is allocated between additional paid-in capital and retained earnings on a pro-rata basis.  The purchase of shares under this plan reduces the number of shares outstanding in the above calculations.

 As of October 1, 2016, the remaining approved repurchase amount under the stock repurchase plan was $35,390.  There currently is no expiration date on the remaining approved repurchase amount and no requirement for future share repurchases.