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Income per Share
 9 Months Ended
Sep. 28, 2014
Earnings Per Share [Abstract]  
Income per Share
Note 4: Income per Share

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

 

     Three Months Ended      Nine Months Ended  
     September 28, 2014      September 29, 2013      September 28, 2014      September 29, 2013  
     (In thousands)  

Numerator:

            

Income from continuing operations

      $ 33,847           $ 29,068         $ 59,018           $ 80,805     

Loss from discontinued operations, net of tax

      -           -           (562)          -     
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income

      $ 33,847           $ 29,068         $ 58,456           $ 80,805     
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator:

            

Weighted average shares outstanding, basic

      43,201           43,694           43,439           44,013     

Effect of dilutive common stock equivalents

      709           843           725           903     
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average shares outstanding, diluted

      43,910           44,537           44,164           44,916     
  

 

 

     

 

 

     

 

 

     

 

 

  

 

For both the three and nine months ended September 28, 2014, diluted weighted average shares outstanding do not include outstanding equity awards of 0.2 million, because to do so would have been anti-dilutive. For both the three and nine months ended September 29, 2013, diluted weighted average shares outstanding do not include outstanding equity awards of 0.3 million, 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.