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Changes In Shareholders' Equity
 6 Months Ended
Jun. 26, 2011
Changes In Shareholders' Equity  
Changes In Shareholders' Equity

Note 10 — Changes in shareholders' equity

In 2007, the Company's Board of Directors authorized the repurchase of up to $300 million of outstanding Company common stock. Repurchases of Company stock under the Board authorization may be made from time to time in the open market and may include privately-negotiated transactions as market conditions warrant and subject to regulatory considerations. The stock repurchase program has no expiration date and the Company's ability to execute on the program will depend on, among other factors, cash requirements for acquisitions, cash generation from operations, debt repayment obligations, market conditions and regulatory requirements. In addition, under the Company's senior credit agreements, the Company is subject to certain restrictions relating to its ability to repurchase shares in the event the Company's consolidated leverage ratio exceeds certain levels, which may limit the Company's ability to repurchase shares under this Board authorization. Through June 26, 2011, no shares have been purchased under this Board authorization.

The following table provides a reconciliation of basic to diluted weighted average common shares outstanding:

 

     Three Months Ended      Six Months Ended  
     June 26,
2011		      June 27,
2010		      June 26,
2011		      June 27,
2010		  
     (Shares in thousands)  

Basic

      40,536         39,913         40,297         39,852   

Dilutive shares assumed issued

      336         443         351         425   
                                   

Diluted

      40,872         40,356         40,648         40,277   
                                   

Weighted average stock options that were anti-dilutive and therefore not included in the calculation of earnings per share were approximately 8,776 thousand and 8,906 thousand for the three and six month periods ended June 26, 2011, respectively, and approximately 1,004 thousand and 871 thousand for the three and six month periods ended June 27, 2010, respectively. The increase in weighted average anti-dilutive shares for the three and six month periods ended June 26, 2011 reflects the inclusion of the warrants that were issued in connection with hedge transactions entered into in connection with the Company's issuance of convertible notes in August 2010.