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Shareholders' Equity
 6 Months Ended
Jun. 28, 2020
Equity [Abstract]  
Shareholders' Equity Shareholders' Equity
Earnings per Share
The following table sets forth the computation of basic and diluted earnings per share:
Three Months EndedSix Months Ended
June 28, 2020June 30, 2019June 28, 2020June 30, 2019
Numerator:
Net income attributable to Sonoco$55,211  $81,159  $135,656  $154,822  
Denominator:
Weighted average common shares outstanding:
Basic100,971  100,759  100,915  100,700  
Dilutive effect of stock-based compensation138  419  194  429  
Diluted101,109  101,178  101,109  101,129  
Net income attributable to Sonoco per common share:
Basic$0.55  $0.81  $1.34  $1.54  
Diluted$0.55  $0.80  $1.34  $1.53  
Cash dividends$0.43  $0.43  $0.86  $0.84  

No adjustments were made to "Net income attributable to Sonoco" in the computations of earnings per share.
Anti-dilutive Securities
Potentially dilutive securities are calculated in accordance with the treasury stock method, which assumes the proceeds from the exercise of all dilutive stock appreciation rights (SARs) are used to repurchase the Company’s common stock. Certain SARs are not dilutive because either the exercise price is greater than the average market price of the stock during the reporting period or assumed repurchases from proceeds from the exercise of the SARs were antidilutive. These SARs may become dilutive in the future if the market price of the Company's common stock appreciates.
The average numbers of SARs that were not dilutive and, therefore, not included in the computation of diluted earnings per share during the three- and six- month periods ended June 28, 2020 and June 30, 2019 were as follows:
Three Months EndedSix Months Ended
June 28, 2020June 30, 2019June 28, 2020June 30, 2019
Anti-dilutive stock appreciation rights1,191  537  890  421  
Stock Repurchases
On February 10, 2016, the Company’s Board of Directors authorized the repurchase of up to 5,000 shares of the Company's common stock. A total of 2,030 shares were purchased in 2016. No shares were repurchased under this authorization during 2017, 2018, 2019, or during the six months ended June 28, 2020. Accordingly, a total of 2,970 shares remain available for repurchase at June 28, 2020.
The Company frequently repurchases shares of its common stock to satisfy employee tax withholding obligations in association with certain share-based compensation awards. These repurchases, which are not part of a publicly announced plan or program, totaled 66 shares in the six months ended June 28, 2020 at a cost of $3,950, and 151 shares in the six months ended June 30, 2019 at a cost of $8,550.
Dividend Declarations
On April 15, 2020, the Board of Directors declared a regular quarterly dividend of $0.43 per share. This dividend was paid on June 10, 2020 to all shareholders of record as of May 8, 2020.
On July 15, 2020, the Board of Directors declared a regular quarterly dividend of $0.43 per share. This dividend is payable on September 10, 2020 to all shareholders of record as of August 10, 2020.