Earnings per Share

9 Months Ended

Sep. 30, 2023

Basic and diluted earnings per share (EPS) were calculated as follows:


	Three Months Ended				Nine Months Ended
	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
(In thousands, except per share amounts)
Net Income Attributable to Kadant	$	30,864	$	27,487	$	88,673	$	94,849

Basic Weighted Average Shares	11,706		11,662		11,697		11,651
Effect of Restricted Stock Units and Employee Stock Purchase Plan Shares	34		38		22		30
Diluted Weighted Average Shares	11,740		11,700		11,719		11,681

Basic Earnings per Share	$	2.64	$	2.36	$	7.58	$	8.14

Diluted Earnings per Share	$	2.63	$	2.35	$	7.57	$	8.12

The effect of outstanding and unvested restricted stock units (RSUs) of the Company's common stock totaling 5,000 shares in the third quarter of 2023, 4,000 shares in the third quarter of 2022, 23,000 shares in the first nine months of 2023 and 10,000 shares in the first nine months of 2022 were not included in the computation of diluted EPS for the respective periods as the effect would have been antidilutive or, for unvested performance-based RSUs, the performance conditions had not been met as of the end of the respective reporting periods.