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Earnings per Share (EPS) and Common Stock | 3 Months Ended
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Dec. 31, 2020
Earnings Per Share And Common Stock [Abstract] |
Earnings per Share (EPS) and Common Stock | 5. Earnings per Share (EPS) and Common Stock EPS Basic EPS is calculated by dividing net income by the weighted-average number of shares outstanding during the period. Diluted EPS is calculated by dividing net income by the weighted-average number of shares outstanding plus the dilutive effect, if any, of outstanding RSUs using the treasury stock method. The calculation of the dilutive effect of outstanding equity awards under the treasury stock method includes consideration of unrecognized compensation expense as additional proceeds. The following table presents the calculation for both basic and diluted EPS:
(in thousands, except per share data) |  | Three months ended |
|  | December 31, 2020 |  |  | December 28, 2019 |
Net income |  | $ | 23,515 |  |  | $ | 35,455 |
Weighted-average shares outstanding—Basic |  |  | 116,401 |  |  |  | 115,190 |
Dilutive effect of restricted stock units |  |  | 1,204 |  |  |  | 501 |
Weighted-average shares outstanding—Diluted |  |  | 117,605 |  |  |  | 115,691 |
Earnings per share—Basic |  | $ | 0.20 |  |  | $ | 0.31 |
Earnings per share—Diluted |  | $ | 0.20 |  |  | $ | 0.31 |
There were 0.1 million anti-dilutive shares for the three months ended December 31, 2020. There were 1.3 million anti-dilutive shares for the three months ended December 28, 2019. Common Stock Repurchases Our Articles of Organization authorize us to issue up to 500 million shares of our common stock. Our Board of Directors has authorized us to repurchase up to $1 billion of our common stock in the period October 1, 2020 through September 30, 2023. We did not repurchase any shares in the first quarter of 2021 or the first quarter of 2020. All shares of our common stock repurchased are automatically restored to the status of authorized and unissued.

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