| Earnings Per Share |
Note 15—Earnings Per Share
The following is a reconciliation of basic weighted average common shares outstanding to diluted weighted average common shares outstanding (in thousands, except per share amounts):
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Three Months Ended |
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Nine Months Ended |
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July 2, 2022 |
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July 3, 2021 |
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July 2, 2022 |
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July 3, 2021 |
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Numerator: |
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Net income |
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$ |
122,986 |
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$ |
118,802 |
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$ |
101,095 |
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$ |
82,093 |
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Denominator: |
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Weighted average shares outstanding - basic |
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182,937 |
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188,264 |
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184,707 |
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184,021 |
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Effect of dilutive securities: |
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Stock options |
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1 |
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2,792 |
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52 |
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1,914 |
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RSUs |
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1,783 |
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3,144 |
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1,936 |
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3,668 |
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Weighted average shares outstanding - diluted |
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184,721 |
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194,200 |
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186,695 |
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189,603 |
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Basic earnings per share |
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$ |
0.67 |
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$ |
0.63 |
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$ |
0.55 |
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$ |
0.45 |
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Diluted earnings per share |
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$ |
0.67 |
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$ |
0.61 |
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$ |
0.54 |
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$ |
0.43 |
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The following number of weighted-average potentially dilutive shares were excluded from the calculation of diluted earnings per share because the effect of including such shares would have been antidilutive (in thousands):
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Three Months Ended |
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Nine Months Ended |
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July 2, 2022 |
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July 3, 2021 |
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July 2, 2022 |
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July 3, 2021 |
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Stock options |
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3,967 |
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290 |
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1,742 |
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218 |
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RSUs |
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563 |
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— |
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551 |
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116 |
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Total |
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4,530 |
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290 |
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2,293 |
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334 |
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