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Earnings Per Share | 6 Months Ended
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Sep. 26, 2020
Earnings Per Share [Abstract] |
Earnings Per Share |
1 1. | Earnings Per Share
Basic net income per share (“EPS”) attributable to the Company was computed by dividing net income attributable to the Company by the average number of common shares outstanding during the period. Certain of the Company’s time-vesting restricted share awards are considered participating securities. Diluted earnings per common share is computed based on the more dilutive of: (i) the two-class method, assuming the participating securities are not exercised or converted; or (ii) the summation of average common shares outstanding and additional common shares that would have been outstanding if the dilutive potential common shares had been issued. During the three and six months ended September 26, 2020 and September 28, 2019, the two-class method was more dilutive. Securities that could potentially dilute basic EPS in the future that were considered antidilutive in the three and six months ended September 26, 2020 totaled 0.3 million and 0.4 million, respectively. There were no antidilutive securities in the three and six months ended September 28, 2019. The following table sets forth the computation of basic and diluted earnings per common share:
|  | Three Months Ended |  | Six Months Ended |
(Dollars and shares in thousands, except per share data) |  | September 26, 2020 |  |  | September 28, 2019 |  |  | September 26, 2020 |  |  | September 28, 2019 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 17,511 |  |  | $ | 17,745 |  |  | $ | 29,414 |  |  | $ | 35,125 |
Undistributed earnings allocated to participating securities |  |  | (19 | ) |  |  | (65 | ) |  |  | (53 | ) |  |  | (154 | )
Net income attributable to the Company's common shareholders |  | $ | 17,492 |  |  | $ | 17,680 |  |  | $ | 29,361 |  |  | $ | 34,971 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic weighted-average shares outstanding |  |  | 56,654 |  |  |  | 56,481 |  |  |  | 56,593 |  |  |  | 56,424 |
Dilutive securities |  |  | 255 |  |  |  | 243 |  |  |  | 238 |  |  |  | 233 |
Diluted weighted-average shares outstanding |  |  | 56,909 |  |  |  | 56,724 |  |  |  | 56,831 |  |  |  | 56,657 |
Basic net income per share |  | $ | 0.31 |  |  | $ | 0.31 |  |  | $ | 0.52 |  |  | $ | 0.62 |
Diluted net income per share |  | $ | 0.31 |  |  | $ | 0.31 |  |  | $ | 0.52 |  |  | $ | 0.62 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 + Details
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