USANA Health Sciences, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Common Stock and Earnings Per Share

Common Stock and Earnings Per Share

3 Months Ended

Apr. 01, 2023

COMMON STOCK AND EARNINGS PER SHARE

Basic earnings per share (“EPS”) is based on the weighted-average number of shares outstanding for each period. Shares that have been repurchased and retired during the periods specified below have been included in the calculation of the number of weighted-average shares that are outstanding for the calculation of basic EPS based on the time they were outstanding in any period. Diluted EPS is based on shares that are outstanding (computed under basic EPS) and on potentially dilutive shares. Shares that are included in the diluted EPS calculations under the treasury stock method include equity awards that are in-the-money but have not yet been exercised.

The following is a reconciliation of the numerator and denominator used to calculate basic EPS and diluted EPS for the periods indicated:


	Quarter Ended
	April 1, 2023		April 2, 2022
Net earnings available to common shareholders	$	18,383	$	22,469
Weighted average common shares outstanding - basic	19,283		19,351
Dilutive effect of in-the-money equity awards	45		130
Weighted average common shares outstanding - diluted	19,328		19,481
Earnings per common share from net earnings - basic	$	0.95	$	1.16
Earnings per common share from net earnings - diluted	$	0.95	$	1.15

NOTE I – COMMON STOCK AND EARNINGS PER SHARE - CONTINUED

Equity awards for the following shares were not included in the computation of diluted EPS due to the fact that their effect would be anti-dilutive:


			Quarter Ended
			April 1, 2023						April 2, 2022
			296						170

There were no shares repurchased during the three months ended April 1, 2023. During the three months ended April 2, 2022, the Company repurchased and retired 288 shares for $25,382 under the Company's share repurchase plan. The excess of the repurchase price over par value is allocated between additional paid-in capital and retained earnings on a pro-rata basis. The purchase of shares under this plan reduces the number of shares outstanding in the above calculations.

As of April 1, 2023, the remaining authorized repurchase amount under the stock repurchase plan was $82,839. There is no expiration date on the remaining approved repurchase amount and no requirement for future share repurchases.