EARNINGS PER SHARE

Basic earnings per share is based on net income and the weighted average of Class A and Class B Common Shares outstanding. Diluted earnings per share reflects the potential dilution of common shares adjusted for outstanding stock options, RSUs and PSUs calculated using the treasury stock method.

The following is a reconciliation of the number of shares used in the calculations of earnings per share:



	Fiscal
	2016	2015	2014
	(in thousands)
Weighted average shares outstanding - Basic shares	81,536	87,561	89,499
Dilutive effect of stock-based compensation awards	599	940	1,113
Weighted average shares outstanding - Diluted shares	82,135	88,501	90,612

For fiscal 2016, 2015 and 2014, the number of potential shares that were not included in the computation of dilutive earnings per share because the effect would be anti-dilutive was approximately 3.1 million, 1.9 million and 1.1 million, respectively.