EARNINGS PER SHARE

6 Months Ended

Apr. 02, 2022

Basic income per share is calculated using the weighted average number of shares of common stock outstanding during the period. Stock options and restricted stock are included in the calculation of diluted earnings per share, except when their effect would be anti-dilutive.

The following table reflects a reconciliation of the shares used in the basic and diluted net income per share computation for the three and six months ended April 2, 2022 and April 3, 2021:



	Three months ended
(in thousands, except per share data)	April 2, 2022				April 3, 2021
	Basic		Diluted		Basic		Diluted
NUMERATOR:
Net income	$	116,001	$	116,001	$	71,320	$	71,320


DENOMINATOR:
Weighted average shares outstanding - Basic	61,482		61,482		62,068		62,068

Dilutive effect of Equity Plans			953				1,169


Weighted average shares outstanding - Diluted			62,435				63,237
EPS:
Net income per share - Basic	$	1.89	$	1.89	$	1.15	$	1.15
Effect of dilutive shares			(0.03)				(0.02)
Net income per share - Diluted			$	1.86			$	1.13

Anti-dilutive shares(1)			21				0



	Six months ended
(in thousands, except per share data)	April 2, 2022				April 3, 2021
	Basic		Diluted		Basic		Diluted
NUMERATOR:
Net income	$	249,607	$	249,607	$	119,683	$	119,683


DENOMINATOR:
Weighted average shares outstanding - Basic	61,934		61,934		62,023		62,023
Dilutive effect of Equity Plans			973				1,095
Weighted average shares outstanding - Diluted			62,907				63,118
EPS:
Net income per share - Basic	$	4.03	$	4.03	$	1.93	$	1.93
Effect of dilutive shares			(0.06)				(0.03)
Net income per share - Diluted			$	3.97			$	1.90

Anti-dilutive shares(1)			1				3

(1) Represents Relative TSR PSUs and Growth PSUs that are excluded from the calculation of diluted earnings per share for the three and six months ended April 2, 2022 and April 3, 2021 as the effect would have been anti-dilutive.