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Earnings Per Share | 9 Months Ended
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Jun. 26, 2021
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The following is a reconciliation of the numerators and denominators of the basic and diluted per share computations for income from continuing operations.
|  | Three Months Ended |  | Nine Months Ended
|  | June 26, 2021 |  | June 26, 2021
|  | Income |  | Shares |  | Per Share |  | Income |  | Shares |  | Per Share
|  | (in thousands, except per share amounts)
Basic EPS: |  |  |  |  |  |  |  |  |  |  |  |
Net income available to common shareholders |  | $ | 76,186 |  |  | 53,976 |  |  | $ | 1.41 |  |  | $ | 154,753 |  |  | 53,882 |  |  | $ | 2.87 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Options to purchase common stock |  | — |  |  | 840 |  |  | (0.02) |  |  | — |  |  | 679 |  |  | (0.04) |
Restricted shares |  | — |  |  | 842 |  |  | (0.02) |  |  | — |  |  | 675 |  |  | (0.03) |
Diluted EPS: |  |  |  |  |  |  |  |  |  |  |  |
Net income available to common shareholders |  | $ | 76,186 |  |  | 55,658 |  |  | $ | 1.37 |  |  | $ | 154,753 |  |  | 55,236 |  |  | $ | 2.80 |
|  | Three Months Ended |  | Nine Months Ended
|  | June 27, 2020 |  | June 27, 2020
|  | Income |  | Shares |  | Per Share |  | Income |  | Shares |  | Per Share
|  | (in thousands, except per share amounts)
Basic EPS: |  |  |  |  |  |  |  |  |  |  |  |
Net income available to common shareholders |  | $ | 68,800 |  |  | 53,441 |  |  | $ | 1.29 |  |  | $ | 107,087 |  |  | 54,261 |  |  | $ | 1.97 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Options to purchase common stock |  | — |  |  | 278 |  |  | (0.01) |  |  | — |  |  | 339 |  |  | (0.01) |
Restricted shares |  | — |  |  | 449 |  |  | (0.01) |  |  | — |  |  | 384 |  |  | (0.01) |
Diluted EPS: |  |  |  |  |  |  |  |  |  |  |  |
Net income available to common shareholders |  | $ | 68,800 |  |  | 54,168 |  |  | $ | 1.27 |  |  | $ | 107,087 |  |  | 54,984 |  |  | $ | 1.95 |
Options to purchase 2.6 million shares of common stock at prices ranging from $13.82 to $51.37 per share were outstanding at June 26, 2021, and options to purchase 3.1 million shares of common stock at prices ranging from $10.63 to $38.10 per share were outstanding at June 27, 2020. For the three months ended June 26, 2021, all options outstanding were included in the computation of diluted earnings per share. For the three months ended June 27, 2020, 0.5 million options outstanding were not included in the computation of diluted earnings per share because the option exercise prices were greater than the average market price of the common shares and therefore, the effect of including these options would be antidilutive. For the nine months ended June 26, 2021 and June 27, 2020, 0.2 million and 1.0 million options outstanding were not included in the computation of diluted earnings per share because the option exercise prices were greater than the average market price of the common shares and therefore, the effect of including these options would be antidilutive.

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