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Note 17—Earnings Per Share
The following is a reconciliation of basic weighted average common shares outstanding to diluted weighted average common shares outstanding (in thousands):
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Year Ended |
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October 2, 2021 |
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October 3, 2020 |
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September 28, 2019 |
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Numerator: |
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Net income |
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$ |
126,634 |
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$ |
58,561 |
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$ |
702 |
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Denominator: |
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Weighted average shares outstanding - basic |
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185,412 |
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156,500 |
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156,500 |
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Effect of dilutive securities: |
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Stock options |
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567 |
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— |
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— |
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RSUs |
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4,030 |
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— |
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— |
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Weighted average shares outstanding - diluted |
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190,009 |
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156,500 |
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156,500 |
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Basic earnings per share |
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$ |
0.68 |
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$ |
0.37 |
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$ |
0.00 |
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Diluted earnings per share |
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$ |
0.67 |
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$ |
0.37 |
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$ |
0.00 |
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The following number of weighted-average potentially dilutive shares were excluded from the calculation of diluted net income per share because the effect of including such shares would have been antidilutive (in thousands):
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Year Ended |
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October 2, 2021 |
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October 3, 2020 |
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September 28, 2019 |
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Stock options |
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321 |
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— |
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— |
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RSUs |
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2 |
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— |
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— |
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323 |
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— |
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— |
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Dilutive weighted-average shares outstanding excludes approximately 0.6 million stock options with performance conditions that have not yet been met or were not yet established as of October 2, 2021.
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