Stockholders’ Equity

Basic earnings per share (“EPS”) was computed by dividing net income by the number of weighted average shares of common stock outstanding. Diluted EPS was calculated to give effect to all potentially dilutive shares of common stock using the treasury stock method.

The reconciliation of basic to diluted weighted average shares outstanding is as follows:



	Quarter Ended
	March 31, 2018	April 1, 2017
Basic weighted average shares outstanding	361,882	373,218
Effect of potentially dilutive securities:
Stock options	1,067	1,640
Restricted stock units	335	385
Employee stock purchase plan and other	7	8
Diluted weighted average shares outstanding	363,291	375,251

For the quarters ended March 31, 2018 and April 1, 2017, no options were excluded from the diluted earnings per share calculation because their effect would be anti-dilutive. For the quarter ended March 31, 2018, no restricted stock units were excluded from the diluted earnings per share calculation, and for the quarter ended April 1, 2017, 42 restricted stock units were excluded from the diluted earnings per share calculation because their effect would be anti-dilutive.

For the quarters ended March 31, 2018 and April 1, 2017, the Company declared cash dividends of $0.15 per share.

On April 24, 2018, the Company’s Board of Directors declared a regular quarterly cash dividend of $0.15 per share on outstanding shares of common stock to be paid on June 5, 2018 to stockholders of record at the close of business on May 15, 2018.

On April 27, 2016, the Company’s Board of Directors approved the current share repurchase program for up to 40,000 shares to be repurchased in open market transactions, subject to market conditions, legal requirements and other factors. The Company did not repurchase any shares during the quarter ended March 31, 2018. For the quarter ended April 1, 2017, the Company repurchased 14,696 shares at a weighted average purchase price of $20.39 per share. The shares were repurchased at a total cost of $299,919. At March 31, 2018, the remaining repurchase authorization totaled 20,360 shares. The program does not obligate the Company to acquire any particular amount of common stock and may be suspended or discontinued at any time at the Company’s discretion.