v3.23.1
Earnings Per Share
3 Months Ended
Apr. 01, 2023
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Diluted EPS related to the 2025 Notes is calculated using the if-converted method; the number of dilutive shares is based on the initial conversion rate associated with the 2025 Notes. The 2025 Notes were dilutive for the three months ended April 1, 2023. A reconciliation of the numerators and denominators of the basic and diluted EPS calculations is as follows:
Three Months Ended
In thousands, except EPS April 1, 2023April 2, 2022
Net income$18,270 $30,147 
After-tax interest expense for 2025 Notes2,359 2,345 
Numerator for diluted EPS$20,629 $32,492 
Weighted average shares outstanding for basic EPS78,721 81,428 
Effect of dilutive securities:
Stock options148 229 
Restricted stock units356 336 
2025 Notes12,911 12,911 
Weighted average shares outstanding for diluted EPS92,136 94,904 
Basic EPS$0.23 $0.37 
Diluted EPS$0.22 $0.34 
Anti-dilutive securities excluded from diluted weighted average common shares525 214