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Earnings Per Share and Certain Related Information | 6 Months Ended
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Mar. 30, 2018
Earnings Per Share Reconciliation [Abstract] |
Earnings Per Share and Certain Related Information | 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 and six months ended March 30, 2018 and March 31, 2017 (in thousands):
| Three Months Ended |  | Six Months Ended
| March 30, 2018 |  | March 31, 2017 |  | March 30, 2018 |  | March 31, 2017
Numerator for Basic and Diluted EPS: |  |  |  |  |  |  |
Net income | $ | 48,587 |  |  | $ | 50,018 |  |  | $ | 50,750 |  |  | $ | 110,554 |
Net income allocated to participating securities | (254 | ) |  | (594 | ) |  | (269 | ) |  | (1,389 | )
Net income allocated to common stock for EPS calculation | $ | 48,333 |  |  | $ | 49,424 |  |  | $ | 50,481 |  |  | $ | 109,165 |
Denominator for Basic and Diluted EPS: |  |  |  |  |  |  |
Weighted average basic shares | 142,531 |  |  | 120,919 |  |  | 133,770 |  |  | 120,935 |
Shares allocated to participating securities | (746 | ) |  | (1,435 | ) |  | (816 | ) |  | (1,519 | )
Shares used for calculating basic EPS attributable to common stock | 141,785 |  |  | 119,484 |  |  | 132,954 |  |  | 119,416 |
Effect of dilutive securities: |  |  |  |  |  |  |
Stock compensation plans | 1,048 |  |  | 795 |  |  | 1,035 |  |  | 866 |
Shares used for calculating diluted EPS attributable to common stock | 142,833 |  |  | 120,279 |  |  | 133,989 |  |  | 120,282 |
Basic EPS | $ | 0.34 |  |  | $ | 0.41 |  |  | $ | 0.38 |  |  | $ | 0.91 |
Diluted EPS | $ | 0.34 |  |  | $ | 0.41 |  |  | $ | 0.38 |  |  | $ | 0.91 |
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 during fiscal 2018 (in thousands, except per-share amounts):
Amount Authorized |  | Average Price Per Share (1) |  | Total Shares Retired |  | Shares Repurchased
$500,000 |  | $60.77 |  | 49 |  | 49
(1) | Includes commissions paid and calculated at the average price per share since the repurchase program authorization date.
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 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 was paid on March 16, 2018, to shareholders of record on the close of business on February 16, 2018. On May 3, 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 June 15, 2018, to shareholders of record on the close of business on May 18, 2018. Future dividend payments are subject to review and approval by the Company’s Board of Directors.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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