Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.22.2.2
Earnings Per Share
 9 Months Ended
Sep. 29, 2022
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Net Income per Common Share
The Company calculates basic earnings per share by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding adjusted for the dilutive effect of share-based awards.
The following table shows the computation of basic and diluted earnings per share:
Thirteen Weeks Ended Thirty-nine Weeks Ended
in thousands, except per share data September 29, 2022 September 30, 2021 September 29, 2022 September 30, 2021
Net income $ 76,175  $ 74,645  $ 228,958  $ 233,357 
Basic weighted average shares outstanding 105,754  104,899  105,565  104,506 
Dilutive effect of share-based awards 1,716  2,587  1,879  2,795 
Diluted weighted average shares outstanding 107,470  107,486  107,444  107,301 
Basic earnings per share $ 0.72  $ 0.71  $ 2.17  $ 2.23 
Diluted earnings per share $ 0.71  $ 0.69  $ 2.13  $ 2.17 
The following potentially dilutive securities were excluded from the computation of diluted earnings per share as a result of their anti-dilutive effect:
Thirteen Weeks Ended Thirty-nine Weeks Ended
in thousands September 29, 2022 September 30, 2021 September 29, 2022 September 30, 2021
Stock options 71  66  70  66 
Restricted stock 12  —  —  — 
Restricted stock units 301  —  229  —