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Shareholders' Equity
 3 Months Ended
Apr. 03, 2022
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
April 3, 2022April 4, 2021
Numerator:
Net income attributable to Sonoco$115,333 $72,297 
Denominator:
Weighted average common shares outstanding:
Basic97,924 101,046 
Dilutive effect of stock-based compensation630 446 
Diluted98,554 101,492 
Net income attributable to Sonoco per common share:
Basic$1.18 $0.72 
Diluted$1.17 $0.71 
Cash dividends$0.45 $0.45 
No adjustments were made to "Net income attributable to Sonoco" in the computations of net income attributable to Sonoco per common share.
Anti-dilutive Securities
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 anti-dilutive and, therefore, not included in the computation of diluted earnings per share during the three month periods ended April 3, 2022 and April 4, 2021 were as follows (in thousands):

Three Months Ended
April 3, 2022April 4, 2021
Anti-dilutive stock appreciation rights401 427 
Stock Repurchases
On April 20, 2021, the Company's Board of Directors (the "Board") authorized the repurchase of the Company's common stock in an aggregate amount of up to $350,000. Following several repurchase transactions in 2021, a total of $137,972 remained available for share repurchases under this authorization as of December 31, 2021. No shares were purchased under this authorization during the three months ended April 3, 2022.
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 60 shares during the three months ended April 3, 2022, at a cost of $3,410, and 85 shares during the three months ended April 4, 2021, at a cost of $5,051.
Dividend Declarations
On February 9, 2022, the Board of Directors declared a regular quarterly dividend of $0.45 per share. This dividend was paid on March 10, 2022 to all shareholders of record as of February 23, 2022.
On April 20, 2022, the Board of Directors declared a regular quarterly dividend of $0.49 per share. This dividend is payable on June 10, 2022 to all shareholders of record as of May 10, 2022.

Noncontrolling interests
In April 2015, the Company acquired a 67% controlling interest in Graffo Paranaense de Embalagens S/A (“Graffo”). Prior to March 31, 2022, the Company consolidated 100% of Graffo, with the partner's 33% share included in “Noncontrolling Interests” within the equity section of the balance sheet. On March 31, 2022, the Company paid $14,474 in cash to acquire the remaining 33% ownership interest from the three noncontrolling partners, which resulted in a $6,116 reduction in noncontrolling interest, a $7,080 charge to capital in excess of stated value, and a $1,278 reduction to accrued expenses and other on the Company's Condensed Consolidated Balance Sheet as of April 3, 2022.