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Earnings Per Share | 9 Months Ended
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Sep. 28, 2019
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share:
|  | Three Months Ended |  | Nine Months Ended
(in thousands, except per share amounts) |  | September 28, 2019 |  | September 29, 2018 |  | September 28, 2019 |  | September 29, 2018
Numerator: |  |  |  |  |  |  |  |
Net income as reported |  | $ | 35,647 |  |  | $ | 53,546 |  |  | $ | 116,428 |  |  | $ | 131,900 |
Denominator: |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  |  |  |  |  |  |
Basic |  | 24,482 |  |  | 25,109 |  |  | 24,646 |  |  | 24,817 |
Effect of dilutive securities |  | 202 |  |  | 362 |  |  | 248 |  |  | 395 |
Diluted |  | 24,684 |  |  | 25,471 |  |  | 24,894 |  |  | 25,212 |
Earnings Per Share: |  |  |  |  |  |  |  |
Basic earnings per share |  | $ | 1.46 |  |  | $ | 2.13 |  |  | $ | 4.72 |  |  | $ | 5.31 |
Diluted earnings per share |  | $ | 1.44 |  |  | $ | 2.10 |  |  | $ | 4.68 |  |  | $ | 5.23 |
Potential shares of common stock relating to stock options excluded from the earnings per share calculation because their effect would be anti-dilutive were 205,516 and 38,082 for the three months ended September 28, 2019 and September 29, 2018, respectively, and 147,090 and 39,446 for the nine months ended September 28, 2019 and September 29, 2018, respectively. Share Repurchase Program The Company’s Board of Directors authorized the repurchase of up to 1,000,000 shares of the Company’s common stock under a program for the period May 1, 2018 to April 30, 2019 ("2018 program"). On April 26, 2019, the Company's Board of Directors authorized a new program to repurchase up to 1,000,000 shares of the Company's common stock for the period May 1, 2019 to April 30, 2020 ("2019 program"). During the three and nine months ended September 28, 2019, the Company repurchased 311,786 and 579,916 shares of its common stock totaling $49.5 million and $95.0 million, respectively.

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