Kontoor Brands, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

EARNINGS PER SHARE

6 Months Ended

Jun. 29, 2024

The calculations of basic and diluted earnings per share ("EPS") are based on net income divided by the basic weighted average number of common shares and diluted weighted average number of common shares outstanding, respectively.

The following table presents the calculations of basic and diluted EPS:


	Three Months Ended June					Six Months Ended June

(In thousands, except per share amounts)		2024		2023			2024		2023
Net income		$	51,769	$	36,396		$	111,276	$	102,692
Basic weighted average shares outstanding		55,810		56,089			55,772		55,868
Dilutive effect of stock-based awards		646		757			825		1,025
Diluted weighted average shares outstanding		56,456		56,846			56,597		56,893
Earnings per share:
Basic earnings per share		$	0.93	$	0.65		$	2.00	$	1.84
Diluted earnings per share		$	0.92	$	0.64		$	1.97	$	1.80

For the three and six months ended June 2024 and June 2023, an immaterial number of shares were excluded from the dilutive earnings per share calculations because the effect of their inclusion would have been anti-dilutive.

For the three and six months ended June 2024, a total of 0.8 million and 0.7 million shares of PRSUs, respectively, were excluded from the calculations of diluted earnings per share as the units were not considered to be contingent outstanding shares. For both the three and six months ended June 2023, a total of 0.6 million shares of PRSUs were excluded from the calculations of diluted earnings per share as the units were not considered to be contingent outstanding shares.