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Earnings Per Share
 9 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
We calculate basic earnings per share by dividing net income by the weighted average number of common shares outstanding. We calculate diluted earnings per share using the treasury stock method, by dividing net income by the weighted average number of common shares outstanding plus the dilutive effect of outstanding share-based awards, including restricted stock units.
The reconciliation of basic net income and diluted earnings per common share for the three and nine month periods ended September 30, 2023 and October 1, 2022 were as follows:
Three Months EndedNine Months Ended
September 30, 2023October 1, 2022September 30, 2023October 1, 2022
(In thousands, except per share data)(In thousands, except per share data)
Net income$24,382 $59,509 $66,660 $264,190 
Weighted-average shares outstanding - basic8,936 9,230 9,010 9,425 
Dilutive effect of share-based awards34 98 18 72 
Weighted-average shares outstanding - diluted8,970 9,328 9,028 9,497 
Basic earnings per share$2.72 $6.44 $7.39 $28.03 
Diluted earnings per share$2.71 $6.38 $7.38 $27.82 
Approximately 96,000 and 77,000 weighted-average shares underlying share-based awards were excluded from the computation of diluted earnings per share for the fiscal quarterly periods ended September 30, 2023 and October 1, 2022, respectively, because their inclusion would have been anti-dilutive.
Approximately 91,000 and 58,000 weighted-average shares underlying share-based awards were excluded from the computation of diluted earnings per share for the nine-month fiscal periods ended September 30, 2023 and October 1, 2022, respectively, because their inclusion would have been anti-dilutive.