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Shareholders' Equity
 3 Months Ended
Mar. 31, 2019
Equity [Abstract]  
Shareholders' Equity Shareholders' Equity
Earnings per Share
The following table sets forth the computation of basic and diluted earnings per share:
Three Months Ended
March 31, 2019April 1, 2018
Numerator:
Net income attributable to Sonoco$73,663 $74,055 
Denominator:
Weighted average common shares outstanding:
Basic100,640 100,396 
Dilutive effect of stock-based compensation432 500 
Diluted101,072 100,896 
Net income attributable to Sonoco per common share:
Basic$0.73 $0.74 
Diluted$0.73 $0.73 
Cash dividends$0.41 $0.39 

Potentially dilutive securities are calculated in accordance with the treasury stock method, which assumes the proceeds from the exercise of all dilutive stock appreciation rights (SARs) are used to repurchase the Company’s common stock. Certain SARs are not dilutive because either the exercise price is greater than the average market price of the stock during the reporting period or assumed repurchases from proceeds from the exercise of the SARs were antidilutive. These SARs may become dilutive in the future if the market price of the Company's common stock appreciates.
The average numbers of SARs that were not dilutive and, therefore, not included in the computation of diluted earnings per share during the three month periods ended March 31, 2019 and April 1, 2018 were as follows:
Three Months Ended
March 31, 2019April 1, 2018
Anti-dilutive stock appreciation rights305 738 
No adjustments were made to net income attributable to Sonoco in the computations of earnings per share.
Stock Repurchases
On February 10, 2016, the Company’s Board of Directors authorized the repurchase of up to 5,000 shares of the Company's common stock. A total of 2,030 were purchased in 2016. No shares were repurchased under this authorization during 2017, 2018, or during the three months ended March 31, 2019. Accordingly, a total of 2,970 shares remain available for repurchase at March 31, 2019.
The Company frequently repurchases shares of its common stock to satisfy employee tax withholding obligations in association with certain share-based compensation awards. These repurchases, which are not part of a publicly announced plan or program, totaled 133 shares in the three months ended March 31, 2019 at a cost of $7,395, and 78 shares in the three months ended April 1, 2018 at a cost of $4,088.
Dividend Declarations
On February 13, 2019, the Board of Directors declared a regular quarterly dividend of $0.41 per share. This dividend was paid on March 8, 2019 to all shareholders of record as of February 27, 2019.
On April 17, 2019, the Board of Directors declared a regular quarterly dividend of $0.43 per share. This dividend is payable on June 10, 2019 to all shareholders of record as of May 10, 2019.