Stockholders' Equity

9 Months Ended

Sep. 28, 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		Nine Months Ended
	September 28, 2019	September 29, 2018	September 28, 2019	September 29, 2018
Basic weighted average shares outstanding	364,743	363,510	364,650	363,338
Effect of potentially dilutive securities:
Stock options	437	723	463	882
Restricted stock units	412	401	361	303
Employee stock purchase plan and other	5	4	4	4
Diluted weighted average shares outstanding	365,597	364,638	365,478	364,527

For the quarter ended September 28, 2019, there were no anti-dilutive restricted stock units. For the quarter ended September 29, 2018, there were 84 restricted stock units excluded from the diluted earnings per share calculation because their effect would be anti-dilutive. For the nine months ended September 28, 2019 and September 29, 2018, there were 5 and 84 restricted stock units excluded from the diluted earnings per share calculation, respectively, because their effect would be anti-dilutive. For the quarters and nine months ended September 28, 2019 and September 29, 2018, there were no anti-dilutive stock options to purchase shares of common stock.

On October 22, 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 December 3, 2019 to stockholders of record at the close of business on November 12, 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 nine months ended September 28, 2019 and September 29, 2018. At September 28, 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.