EQUITY

Earnings Per Share

The following table reconciles the numerator and denominator in the computations of basic and diluted earnings per share:



	Three Months Ended					Nine Months Ended
	September 26, 2015			September 27, 2014		September 26, 2015			September 27, 2014
	(in thousands)
Numerator:
Net income from continuing operations attributable to common shareholders	$	37,413		$	31,984	$	117,477		$	100,394
Loss (income) from discontinued operations, net of income taxes	(34		)	52		(48		)	(862		)
Net income attributable to common shareholders	$	37,379		$	32,036	$	117,429		$	99,532

Denominator:
Weighted-average shares outstanding—Basic	46,290			46,016		46,572			46,683
Effect of dilutive securities:
Stock options, restricted stock units, performance stock units and contingently issuable restricted stock	955			862		1,012			883
Weighted-average shares outstanding—Diluted	47,245			46,878		47,584			47,566

Options to purchase approximately 0.5 million and 0.9 million shares were not included in computing diluted earnings per share for the three months ended September 26, 2015 and September 27, 2014, respectively, because their inclusion would have been anti-dilutive. For the nine months ended September 26, 2015 and September 27, 2014, anti-dilutive options were 0.5 million and 0.8 million shares, respectively. Basic weighted average shares outstanding for the three and nine months ended September 26, 2015 and September 27, 2014 excluded the impact of approximately 1.1 million and 1.2 million shares, respectively, of non-vested restricted stock and restricted stock units.

Treasury Shares

In July 2010, the Company’s Board of Directors authorized a $500.0 million stock repurchase program, and subsequently approved increases to the stock repurchase program of $250.0 million in 2010, $250.0 million in 2013 and $150.0 million in 2014, for an aggregate authorization of $1,150.0 million. The Company repurchased approximately 1.5 million shares for $108.8 million and approximately 2.1 million shares for $110.6 million in the nine months ended September 26, 2015 and September 27, 2014, respectively. As of September 26, 2015, the Company had $69.7 million remaining on the authorized stock repurchase program. The Company’s 2007 Incentive Plan permits the netting of common stock upon vesting of restricted stock and restricted stock units in order to satisfy individual minimum statutory tax withholding requirements. During the nine months ended September 26, 2015 and September 27, 2014, the Company acquired approximately 0.1 million shares for $8.7 million and approximately 0.1 million shares for $6.7 million, respectively.

Accumulated Other Comprehensive Income (Loss)

Changes to each component of accumulated other comprehensive income (loss), net of income tax, are as follows:



	Foreign Currency Translation and Other			Pension and Other Post-Retirement Benefit Plans			Total
	(in thousands)
December 27, 2014	$	(19,891	)	$	(54,356	)	$	(74,247	)
Other comprehensive loss before reclassifications	(45,697		)	—			(45,697		)
Amounts reclassified from accumulated other comprehensive income (loss)	(2,341		)	2,185			(156		)
Net current period other comprehensive income (loss)	(48,038		)	2,185			(45,853		)
Income tax expense	—			700			700
September 26, 2015	$	(67,929	)	$	(52,871	)	$	(120,800	)

Foreign currency translation and other includes an insignificant amount of unrealized gains (losses) on available-for-sale marketable securities.

Nonredeemable Noncontrolling Interests

The Company has investments in several entities, whose financial results are consolidated in the Company’s financial statements, as it has the ability to exercise control over these entities. The interests of the respective noncontrolling parties in these entities have been recorded as noncontrolling interests. The activity within the nonredeemable noncontrolling interests was insignificant during the three and nine months ended September 26, 2015 and September 27, 2014.