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Net Income Per Share | 6 Months Ended
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Jul. 03, 2021
Earnings Per Share [Abstract] |
Net Income Per Share | Net Income Per Share CRA calculates basic earnings per share using the two-class method. CRA calculates diluted earnings per share using the more dilutive of either the two-class method or treasury stock method. The two-class method was more dilutive for the fiscal quarters and fiscal year-to-date periods ended July 3, 2021 and June 27, 2020. Under the two-class method, net earnings are allocated to each class of common stock and participating security as if all the net earnings for the period had been distributed. CRA's participating securities consist of unvested share-based payment awards that contain a nonforfeitable right to receive dividends and therefore are considered to participate in undistributed earnings with common shareholders. Net earnings allocable to these participating securities were not material for the fiscal quarters and fiscal year-to-date periods ended July 3, 2021 and June 27, 2020. The following table presents a reconciliation from net income to the net income available to common shareholders (in thousands):
|  | Fiscal Quarter Ended |  | Fiscal Year-to-Date Period Ended
|  | July 3, 2021 |  | June 27, 2020 |  | July 3, 2021 |  | June 27, 2020
Net income, as reported |  | $ | 11,566 |  |  | $ | 5,931 |  |  | $ | 22,067 |  |  | $ | 12,399 |
Less: net income attributable to participating shares |  | 51 |  |  | 22 |  |  | 97 |  |  | 49 |
Net income available to common shareholders |  | $ | 11,515 |  |  | $ | 5,909 |  |  | $ | 21,970 |  |  | $ | 12,350 |
The following table presents a reconciliation of basic to diluted weighted average shares of common stock outstanding (in thousands):
|  | Fiscal Quarter Ended |  | Fiscal Year-to-Date Period Ended
|  | July 3, 2021 |  | June 27, 2020 |  | July 3, 2021 |  | June 27, 2020
Basic weighted average shares outstanding |  | 7,320 |  |  | 7,764 |  |  | 7,473 |  |  | 7,784 |
Dilutive stock options and restricted stock units |  | 219 |  |  | 156 |  |  | 212 |  |  | 195 |
Diluted weighted average shares outstanding |  | 7,539 |  |  | 7,920 |  |  | 7,685 |  |  | 7,979 |
The following table presents the anti-dilutive share-based awards that were excluded from the calculation of common stock equivalents for purposes of computing diluted weighted average shares outstanding. For the fiscal quarter and fiscal year-to-date period ended June 27, 2020, the share-based awards each period were anti-dilutive because their exercise price exceeded the average market price over the respective period. There were no anti-dilutive shares for the fiscal quarter and fiscal year-to-date period ended July 3, 2021.
|  | Fiscal Quarter Ended |  | Fiscal Year-to-Date Period Ended
|  | July 3, 2021 |  | June 27, 2020 |  | July 3, 2021 |  | June 27, 2020
Anti-dilutive share-based awards excluded |  | — |  |  | 106,018 |  |  | — |  |  | 44,069 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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