17.	Earnings Per Share and Certain Related Information

Basic and diluted earnings per share (“EPS”) are computed using the two-class method, which is an earnings allocation method that determines EPS for common shares and participating securities. The undistributed earnings are allocated between common shares and participating securities as if all earnings had been distributed during the period. Participating securities and common shares have equal rights to undistributed earnings. Net earnings used for the purpose of determining basic and diluted EPS is determined by taking net earnings, less earnings available to participating securities.

The following table reconciles the denominator used to compute basic EPS to the denominator used to compute diluted EPS for the three months ended December 29, 2017 and December 30, 2016 (in thousands):

	For the Three Months Ended
	December 29, 2017			December 30, 2016
Numerator for Basic and Diluted EPS:
Net income	$	2,163		$	60,536
Net income allocated to participating securities		(15	)		—
Net income allocated to common stock for EPS calculation	$	2,148		$	60,536

Denominator for Basic and Diluted EPS:
Weighted average basic shares		124,122			119,438

Effect of dilutive securities:
Stock compensation plans		1,023			1,477
Restricted stock		886			936

Diluted shares		126,031			121,851

Shares allocated to participating securities		(886	)		—
Shares used for calculating diluted EPS attributable to common stock		125,145			121,851

Basic EPS	$	0.02		$	0.50
Diluted EPS	$	0.02		$	0.50

Share Repurchases

On July 23, 2015, the Company’s Board of Directors authorized a share repurchase program of up to $500 million of the Company’s common stock. The following table summarizes the activity under this program from the authorization date (in thousands, except per-share amounts):

Amount Authorized

Average Price Per

Share (1)

Total Shares

Retired

Repurchased

500,000

48.44

5,156

(1)	Includes commissions paid and calculated at the average price per share since the repurchase program authorization date.

There were no share repurchases during the first fiscal quarter of 2018.

Share repurchases may be executed through various means including, without limitation, open market transactions, privately negotiated transactions or otherwise. The share repurchase program does not obligate the Company to purchase any shares and expires on July 22, 2018. The authorization for the share repurchase program may be terminated, increased or decreased by the Company’s Board of Directors in its discretion at any time. The timing of share repurchases may depend upon market conditions, other uses of capital, and other factors.

Dividend Program

On December 1, 2016, the Company announced that the Board of Directors approved the initiation of a cash dividend program. A quarterly dividend of $0.15 per share was paid on November 10, 2017 to shareholders of record as of the close of business on September 27, 2017. There were no dividends paid in the corresponding period of fiscal 2017.

On January 18, 2018, the Company’s Board of Directors declared a quarterly dividend of $0.15 per share of the Company’s common stock that will be paid on March 16, 2018, to shareholders of record on the close of business on February 16, 2018. Future dividend payments are subject to review and approval by the Company’s Board of Directors.