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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 computation of basic and diluted earnings per share ("EPS") is based on net income divided by the basic weighted average number of common shares and diluted weighted average number of common shares outstanding, respectively. On May 22, 2019, the Separation from VF was effected through a pro-rata distribution of one share of the Company's common stock for every seven shares of VF common stock held at the close of business on the record date of May 10, 2019. As a result, on May 23, 2019, the Company had 56,647,561 shares of common stock outstanding. This share amount was utilized for the calculation of basic and diluted earnings per share for all periods presented through the Separation date. After the Separation date, actual outstanding shares are used to calculate both basic and diluted weighted average number of common shares outstanding. The following table presents the computation of basic and diluted EPS:
|  | Three Months Ended September |  |  | Nine Months Ended September
(in thousands, except per share amounts) |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018
Net income |  | $ | 14,502 |  |  |  | $ | 71,018 |  |  |  | $ | 67,901 |  |  |  | $ | 211,172 |
Basic weighted average shares outstanding |  | 56,694 |  |  |  | 56,648 |  |  |  | 56,663 |  |  |  | 56,648 |
Dilutive effect of stock-based awards |  | 707 |  |  |  | — |  |  |  | 326 |  |  |  | — |
Diluted weighted average shares outstanding |  | 57,401 |  |  |  | 56,648 |  |  |  | 56,989 |  |  |  | 56,648 |
Earnings per share: |  |  |  |  |  |  |  |  |  |  |
Basic earnings per share |  | $ | 0.26 |  |  |  | $ | 1.25 |  |  |  | $ | 1.20 |  |  |  | $ | 3.73 |
Diluted earnings per share |  | 0.25 |  |  |  | 1.25 |  |  |  | 1.19 |  |  |  | 3.73 |
Anti-dilutive stock-based awards excluded from diluted calculation |  | 323 |  |  |  | — |  |  |  | 164 |  |  |  | — |
A total of 0.5 million shares of performance-based RSUs were excluded from the calculation of diluted earnings per share for both the three and nine-month periods ended September 2019 as the units were not considered to be contingent outstanding shares.

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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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