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Earnings Per Common Share
 3 Months Ended
Jun. 25, 2022
Earnings Per Common Share [Abstract]  
Earnings Per Common Share Note 3 – Earnings per Common Share

Basic earnings per common share amounts are calculated by dividing income available to common shareholders, after deducting preferred stock dividends, by the weighted average number of shares of common stock outstanding. Diluted earnings per common share amounts are calculated by dividing net income by the weighted average number of shares of common stock outstanding adjusted to give effect to potentially dilutive securities.

Earnings per Common Share

Three Months Ended

(thousands, except per share data)

June 25, 2022

June 26, 2021

Numerator for earnings per common share calculation:

Net income

$

12,484 

$

15,681 

Less: Preferred stock dividends

(129)

(110)

Income available to common shareholders

$

12,355 

$

15,571 

Denominator for earnings per common share calculation:

Weighted average common shares - basic

33,483 

33,498 

Effect of dilutive securities:

Preferred stock

460 

460 

Stock based awards

43 

64 

Weighted average common shares - diluted

33,986 

34,022 

Basic earnings per common share

$

0.37 

$

0.46 

Diluted earnings per common share

$

0.37 

$

0.46 

Weighted average common share equivalents that have an anti-dilutive impact are excluded from the computation of diluted earnings per share.