Stockholders' Equity

6 Months Ended

Jun. 29, 2019

Stockholders’ Equity

Basic earnings per share (“EPS”) was computed by dividing net income by the number of weighted average shares of common stock outstanding during the period. Diluted EPS was calculated to give effect to all potentially issuable 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		Six Months Ended
	June 29, 2019	June 30, 2018	June 29, 2019	June 30, 2018
Basic weighted average shares outstanding	364,637	362,011	364,603	361,944
Effect of potentially dilutive securities:
Stock options	480	876	475	968
Restricted stock units	415	367	335	333
Employee stock purchase plan and other	5	—	5	—
Diluted weighted average shares outstanding	365,537	363,254	365,418	363,245

For the quarter ended June 29, 2019, there were no anti-dilutive restricted stock units. For the quarter ended June 30, 2018, there were 14 restricted stock units excluded from the diluted earnings per share calculation because their effect would be anti-dilutive. For the six months ended June 29, 2019 and June 30, 2018, there were 2 and 14 restricted stock units excluded

from the diluted earnings per share calculation, respectively, because their effect would be anti-dilutive. For the quarters and six months ended June 29, 2019 and June 30, 2018, there were no anti-dilutive stock options to purchase shares of common stock.

On July 23, 2019, 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 September 4, 2019 to stockholders of record at the close of business on August 13, 2019.

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 quarters and six months ended June 29, 2019 and June 30, 2018. At June 29, 2019, the remaining repurchase authorization totaled 20,360 shares. The primary objective of the share repurchase program is to utilize excess cash to generate shareholder value.