Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.5.0.2
Earnings Per Share
9 Months Ended
Oct. 01, 2016
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
Basic and diluted weighted-average shares outstanding are as follows:
 
 
Nine Months Ended
 
Three Months Ended
(In thousands)
October 1,
2016
 
October 3,
2015
 
October 1,
2016
 
October 3,
2015
Weighted Average Shares - Basic
29,199

 
29,203

 
28,925

 
29,274

Net Effect of Dilutive Stock Options
937

 
970

 
883

 
876

Weighted Average Shares - Diluted
30,136

 
30,173

 
29,808

 
30,150


The above information has been adjusted to reflect the impact of the three-for-twenty Class B stock distribution to shareholders of record on October 11, 2016.
Stock options with exercise prices greater than the average market price of the underlying common shares are excluded from the computation of diluted earnings per share because they are out-of-the-money and the effect of their inclusion would be anti-dilutive. The number of common shares covered by out-of-the-money stock options at October 1, 2016 was approximately 41,000 shares.