6.Earnings Per Share

We compute earnings per share using the two-class method. The two-class method requires an earnings allocation formula that determines earnings per share for common shareholders and participating security holders according to dividends declared and participating rights in undistributed earnings. We consider time-based restricted stock awards to be participating securities because holders of such shares have non-forfeitable dividend rights. Under the two-class method, undistributed earnings allocated to participating securities are subtracted from net income attributable to the Company in determining net income attributable to common shareholders.

The calculations of basic and diluted earnings per common share are as follows (in thousands, except per-share data):


	Three Months Ended
	April 1,		March 26,
	2018		2017

Basic earnings per common share:
Net income attributable to the Company	$	16,737	$	28,428
Change in noncontrolling interest redemption value		—		520
Net income attributable to participating securities		(75)		(117)
Net income attributable to common shareholders	$	16,662	$	28,831

Weighted average common shares outstanding		33,279		36,810
Basic earnings per common share	$	0.50	$	0.78

Diluted earnings per common share:
Net income attributable to common shareholders	$	16,662	$	28,831

Weighted average common shares outstanding		33,279		36,810
Dilutive effect of outstanding equity awards (a)		273		540
Diluted weighted average common shares outstanding		33,552		37,350
Diluted earnings per common share	$	0.50	$	0.77

(a) Excludes 790 and 117 awards for the three months ended April 1, 2018 and March 26, 2017, respectively, as the effect of including such awards would have been antidilutive.