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EARNINGS PER SHARE | 9 Months Ended
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Oct. 02, 2021
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE The calculations 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. The following table presents the calculations of basic and diluted EPS:
| Three Months Ended September |  | Nine Months Ended September
(In thousands, except per share amounts) |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020
Net income |  | $ | 63,413 |  |  |  | $ | 60,785 |  |  |  | $ | 151,513 |  |  |  | $ | 24,811 |
Basic weighted average shares outstanding |  | 57,648 |  |  |  | 57,007 |  |  |  | 57,535 |  |  |  | 56,938 |
Dilutive effect of stock-based awards |  | 1,634 |  |  |  | 635 |  |  |  | 1,645 |  |  |  | 731 |
Diluted weighted average shares outstanding |  | 59,282 |  |  |  | 57,642 |  |  |  | 59,180 |  |  |  | 57,669 |
Earnings per share: |  |  |  |  |  |  |  |  |  |  |
Basic earnings per common share |  | $ | 1.10 |  |  |  | $ | 1.07 |  |  |  | $ | 2.63 |  |  |  | $ | 0.44 |
Diluted earnings per common share |  | $ | 1.07 |  |  |  | $ | 1.05 |  |  |  | $ | 2.56 |  |  |  | $ | 0.43 |
For the three and nine months ended September 2021, there were an immaterial number of anti-dilutive shares that were excluded from the dilutive earnings per share calculation. A total of 1.6 million and 1.1 million of potentially dilutive shares were excluded from the diluted earnings per share calculation for the three and nine months ended September 2020, respectively, because the effect of their inclusion would have been anti-dilutive. For the three and nine months ended September 2021, respectively, a total of 0.4 million and 0.3 million shares of performance-based restricted stock units ("PRSUs") were excluded from the calculations of diluted earnings per share as the units were not considered to be contingent outstanding shares. For both the three and nine months ended September 2020, a total of 0.4 million shares of PRSUs were excluded from the calculations of diluted earnings per share as the units were not considered to be contingent outstanding shares.

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