| 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 1, 2023 |
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July 2, 2022 |
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July 1, 2023 |
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July 2, 2022 |
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Numerator: |
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Net income |
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$ |
72,547 |
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$ |
122,986 |
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$ |
10,761 |
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$ |
101,095 |
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Denominator: |
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Weighted average shares outstanding - basic |
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183,932 |
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182,937 |
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183,725 |
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184,707 |
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Effect of dilutive securities: |
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Stock Options |
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— |
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1 |
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— |
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52 |
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RSUs |
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828 |
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1,783 |
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1,027 |
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1,936 |
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Weighted average shares outstanding - diluted |
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184,760 |
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184,721 |
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184,752 |
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186,695 |
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Basic earnings per share |
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$ |
0.39 |
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$ |
0.67 |
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$ |
0.06 |
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$ |
0.55 |
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Diluted earnings per share |
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$ |
0.39 |
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$ |
0.67 |
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$ |
0.06 |
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$ |
0.54 |
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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 1, 2023 |
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July 2, 2022 |
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July 1, 2023 |
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July 2, 2022 |
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Stock Options |
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3,502 |
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3,967 |
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3,591 |
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1,742 |
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RSUs |
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1,587 |
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563 |
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|
778 |
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|
551 |
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Total |
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5,089 |
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4,530 |
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4,369 |
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2,293 |
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