Income per Share

6 Months Ended

Jul. 01, 2012

Income per Share [Abstract]

Income per Share

Note 3: Income per Share

The following table presents the basis for the income per share computations:

	Three Months Ended					Six Months Ended
	July 1, 2012		July 3, 2011			July 1, 2012		July 3, 2011
	(In thousands)
Numerator:
Income from continuing operations	$	42,390	$	34,881		$	66,665	$	56,899
Loss from discontinued operations, net of tax		—		(156	)		—		(284	)
Net income	$	42,390	$	34,725		$	66,665	$	56,615
Denominator:
Weighted average shares outstanding, basic		45,526		47,401			45,720		47,304
Effect of dilutive common stock equivalents		779		1,013			903		1,068
Weighted average shares outstanding, diluted		46,305		48,414			46,623		48,372

For the three and six months ended July 1, 2012, diluted weighted average shares outstanding do not include outstanding equity awards of 1.3 million and 1.0 million, respectively, because to do so would have been anti-dilutive. For the three and six months ended July 3, 2011, diluted weighted average shares outstanding do not include outstanding equity awards of 0.7 million and 0.6 million, respectively, because to do so would have been anti-dilutive.

For purposes of calculating basic earnings per share, unvested restricted stock units are not included in the calculation of basic weighted average shares outstanding until all necessary conditions have been satisfied and issuance of the shares underlying the restricted stock units is no longer contingent. Necessary conditions are not satisfied until the vesting date, at which time holders of our restricted stock units receive shares of our common stock.

For purposes of calculating diluted earnings per share, unvested restricted stock units are included to the extent that they are dilutive. In determining whether unvested restricted stock units are dilutive, each issuance of restricted stock units is considered separately.

Once a restricted stock unit has vested, it is included in the calculation of both basic and diluted weighted average shares outstanding.