Note B — Basic and Diluted Earnings Per Share

Basic and diluted earnings per share were calculated as follows:







Weighted-average common share equivalents that had an anti-dilutive impact are excluded from the computation of diluted earnings per share.

In July 2016, the Company announced that the Board approved a program to repurchase up to $350.0 million of the Company's common stock, with authorization expiring in May 2019 (the “July 2016 Program”).  During fiscal 2018, the Company repurchased 2.5 million shares for $143.1 million under the July 2016 Program.  During fiscal 2017, the Company repurchased 2.9 million shares for $166.2 million. Of the shares repurchased during fiscal 2017,  $59.7 million were repurchased under a previously authorized common stock repurchase program.    The purpose of the program is to manage common stock dilution.  All shares repurchased were retired.