Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.19.1
Earnings Per Share
6 Months Ended
Mar. 30, 2019
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
The following is a reconciliation of the numerators and denominators of the basic and diluted per share computations for income from continuing operations (in thousands except share and per share amounts).
 
 
Three Months Ended
 
Six Months Ended
 
 
March 30, 2019
 
March 30, 2019
 
 
Income
 
Shares
 
Per Share
 
Income

Shares

Per Share
Basic EPS:
 
 
 
 
 
 
 





Net income available to common shareholders
 
$
42,391

 
57,050

 
$
0.74

 
$
44,194


56,976


$
0.78

Effect of dilutive securities:
 
 
 
 
 
 
 





     Options to purchase common stock
 

 
609

 
(0.01
)
 


639


(0.01
)
     Restricted shares
 

 
367

 

 


398


(0.01
)
Diluted EPS:
 

 

 

 





     Net income available to common shareholders
 
$
42,391

 
58,026

 
$
0.73

 
$
44,194


58,013


$
0.76

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Six Months Ended
 
 
March 31, 2018
 
March 31, 2018
 
 
Income

Shares

Per Share
 
Income

Shares

Per Share
Basic EPS:






 





     Net income available to common shareholders

$
45,234


50,871


$
0.89

 
$
71,481


50,816


$
1.41

Effect of dilutive securities:






 





     Options to purchase common stock



1,092


(0.02
)
 
 

1,120


(0.03
)
     Restricted shares



695


(0.01
)
 
 

757


(0.02
)
Diluted EPS:






 
 




     Net income available to common shareholders

$
45,234


52,658


$
0.86

 
$
71,481


52,693


$
1.36

 
 
 
 
 
 
 
 
 
 
 
 
 


Options to purchase 2.8 million shares of common stock at prices ranging from $8.56 to $38.10 per share were outstanding at March 30, 2019, and options to purchase 2.7 million shares of common stock at prices ranging from $6.43 to $36.94 per share were outstanding at March 31, 2018.

For the three months ended March 30, 2019, 1.8 million options outstanding were not included in the computation of diluted earnings per share because the option exercise prices were greater than the average market price of the common shares and therefore, the effect of including these options would be antidilutive. For the three months ended March 31, 2018, all options outstanding were included in the computation of diluted earnings per share.

For the six months ended March 30, 2019, 1.8 million options outstanding were not included in the computation of diluted earnings per share because the option exercise prices were greater than the average market price of the common shares and therefore, the effect of including these options would be antidilutive. For the six months ended March 31, 2018, all options outstanding were included in the computation of diluted earnings per share.