Changes In Shareholders' Equity

9 Months Ended

Sep. 25, 2011

Changes In Shareholders' Equity [Abstract]

Changes In Shareholders' Equity

Note 10 — Changes in shareholders' equity

In 2007, the Company's Board of Directors authorized the repurchase of up to $300 million of outstanding Company common stock. Repurchases of Company stock under the Board authorization may be made from time to time in the open market and may include privately-negotiated transactions as market conditions warrant and subject to regulatory considerations. The stock repurchase program has no expiration date and the Company's ability to execute on the program will depend on, among other factors, cash requirements for acquisitions, cash generation from operations, debt repayment obligations, market conditions and regulatory requirements. In addition, under the Company's senior credit agreements, the Company is subject to certain restrictions relating to its ability to repurchase shares in the event the Company's consolidated leverage ratio exceeds certain levels, which may limit the Company's ability to repurchase shares under this Board authorization. Through September 25, 2011, no shares have been purchased under this Board authorization.

The following table provides a reconciliation of basic to diluted weighted average common shares outstanding:

	Three Months Ended				Nine Months Ended
	September 25, 2011		September 26, 2010		September 25, 2011		September 26, 2010
	(Shares in thousands)
Basic		40,684		39,933		40,426		39,879
Dilutive shares assumed issued		259		321		312		390
Diluted		40,943		40,254		40,738		40,269

Weighted average stock options that were anti-dilutive and therefore not included in the calculation of earnings per share were approximately 8,785 thousand and 8,866 thousand for the three and nine month periods ended September 25, 2011, respectively, and approximately 6,717 thousand and 2,820 thousand for the three and nine month periods ended September 26, 2010, respectively.