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Earnings Per Share

12 Months Ended

Mar. 30, 2024

Earnings Per Share

Earnings Per Share

14. Earnings Per Share

Earnings per share is computed under the provisions of FASB ASC Topic 260, Earnings Per Share. Basic earnings per share is computed based on the weighted average number of outstanding shares of common stock during the period. Diluted earnings per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method, whereby proceeds from such exercise and unamortized compensation, if any, on share-based awards are assumed to be used by the Company to purchase the shares of common stock at the average market price during the period. The dilutive effect of stock options and restricted stock is applicable only in periods of net income. Performance share units and market-based stock option awards are excluded from the calculation of diluted earnings per share until their respective performance or market criteria has been achieved.

The components of basic and diluted earnings per share of common stock, in aggregate, for fiscal 2024, 2023, and 2022 are as follows:

​	​	​	​	​	​	​	​	​	​
​		Fiscal Year Ended
​	​	March 30,		​	April 1,		​	March 26,
(in thousands, except per share data)		2024			2023			2022
Net income	​	$	146,996	​	$	170,553	​	$	192,450
​	​	​	​	​	​	​	​	​	​
Weighted average basic shares outstanding	​		30,167	​		29,805	​		29,556
Dilutive effect of options and restricted stock	​		444	​		565	​		835
Weighted average diluted shares outstanding	​		30,611	​		30,370	​		30,391
​	​	​	​	​	​	​	​	​	​
Basic earnings per share	​	$	4.87	​	$	5.72	​	$	6.51
Diluted earnings per share	​	$	4.80	​	$	5.62	​	$	6.33

​

During fiscal 2024, fiscal 2023 and fiscal 2022, securities outstanding totaling approximately 86,882, 198,511, and 1,387 shares, comprised of options and restricted stock, were excluded from the computation of weighted average diluted common shares outstanding, as the effect of doing so would have been anti-dilutive.

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The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//260/tableOfContent

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-3

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