Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

Earnings Per Share
3 Months Ended
Mar. 30, 2019
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic and diluted weighted-average shares outstanding are as follows: 
Three Months Ended
(In thousands)
March 30, 2019 March 31, 2018
Weighted Average Shares - Basic
32,619  32,282 
Net Effect of Dilutive Stock Options
595  732 
Weighted Average Shares - Diluted
33,214  33,014 
The above prior-year 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 154,000 shares as of March 30, 2019 and insignificant as of March 31, 2018.