Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

Earnings Per Share (Tables)
9 Months Ended
Sep. 29, 2018
Earnings Per Share [Abstract]  
Summary of Basic and Diluted Weighted-Average Shares Outstanding
Basic and diluted weighted-average shares outstanding are as follows: 
Nine Months Ended 
Three Months Ended
(In thousands)
September 29, 2018 September 30, 2017 September 29, 2018 September 30, 2017
Weighted Average Shares - Basic
32,304  33,096  32,317  32,570 
Net Effect of Dilutive Stock Options
731  1,124  652  780 
Weighted Average Shares - Diluted
33,035  34,220  32,969  33,350 
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 12, 2018.
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 was approximately 19,000 shares as of September 29, 2018.