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
	March 26, 2016			March 28, 2015
	(in thousands)
Numerator:
Income from continuing operations, net of income taxes	$	37,575		$	31,621
Loss from discontinued operations, net of income taxes	(26		)	(7		)
Less: Net income attributable to noncontrolling interests	(406		)	(73		)
Net income attributable to common shareholders	$	37,143		$	31,541

Denominator:
Weighted-average shares outstanding - Basic	46,642			46,772
Effect of dilutive securities: Stock options, restricted stock units, performance share units and restricted stock	975			1,096
Weighted-average shares outstanding - Diluted	47,617			47,868

Options to purchase approximately 1.0 million and 0.6 million shares for the three months ended March 26, 2016 and March 28, 2015, respectively, and an insignificant number of restricted stock, restricted stock units (RSUs) and performance share units (PSUs) were not included in computing diluted earnings per share because their inclusion would have been anti-dilutive. Basic weighted average shares outstanding for the three months ended March 26, 2016 and March 28, 2015 excluded the impact of approximately 1.1 million and 1.2 million shares, respectively, of non-vested restricted stock, RSUs and PSUs.

Treasury Shares

During the three months ended March 26, 2016, the Company did not repurchase any shares under its authorized stock repurchase program. The Company repurchased approximately 0.7 million shares for $50.0 million in the three months ended March 28, 2015. As of March 26, 2016, the Company had $69.7 million remaining on the authorized stock repurchase program. The Company’s stock-based compensation plans permit the netting of common stock upon vesting of restricted stock, RSUs and PSUs in order to satisfy individual minimum statutory tax withholding requirements. During the three months ended March 26, 2016 and March 28, 2015, the Company acquired approximately 0.2 million shares for $12.1 million and approximately 0.1 million shares for $8.6 million, respectively.

Accumulated Other Comprehensive Income (Loss)

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



	Foreign Currency Translation Adjustment and Other			Pension and Other Post-Retirement Benefit Plans			Total
	(in thousands)
December 26, 2015	$	(82,977	)	$	(52,571	)	$	(135,548	)
Other comprehensive loss before reclassifications	(7,517		)	—			(7,517		)
Amounts reclassified from accumulated other comprehensive income (loss)	—			390			390
Net current period other comprehensive income (loss)	(7,517		)	390			(7,127		)
Income tax expense	—			142			142
March 26, 2016	$	(90,494	)	$	(52,323	)	$	(142,817	)

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 a controlling financial interest in 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 months ended March 26, 2016 and March 28, 2015.