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Earnings Per Common Share | 6 Months Ended
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Jul. 01, 2023
Earnings Per Share [Abstract] |
Earnings Per Common Share | EARNINGS PER COMMON SHARE Basic earnings per common share (“EPS”) is calculated based on the weighted average number of shares of common stock outstanding during the applicable period. Diluted earnings per common share is calculated based on the weighted average number of shares of common stock outstanding plus potentially dilutive shares of common stock outstanding during the applicable period. The following table presents a reconciliation of the share amounts used in the computation of basic and diluted earnings per common share:
| Three months ended |  | Six months ended
(In thousands) | July 1, 2023 |  | July 2, 2022 |  | July 1, 2023 |  | July 2, 2022
Basic—weighted common shares outstanding | 149,825 |  |  | 135,895 |  |  | 149,626 |  |  | 135,783 |
Weighted common shares assumed upon exercise of stock options and vesting of restricted common stock | 1,012 |  |  | 559 |  |  | 983 |  |  | 720 |
Diluted—weighted common shares and common shares equivalent outstanding | 150,837 |  |  | 136,454 |  |  | 150,609 |  |  | 136,503 |
The Company excluded the following shares underlying stock-based awards from the calculations of diluted EPS because their inclusion would have been anti-dilutive for the three and six months ended July 1, 2023 and July 2, 2022:
| Three months ended |  | Six months ended
(In thousands) | July 1, 2023 |  | July 2, 2022 |  | July 1, 2023 |  | July 2, 2022
Shares excluded from calculations of diluted EPS | 580 |  |  | 595 |  |  | 791 |  |  | 519 |

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