Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v3.22.4
Earnings Per Share
 12 Months Ended
Dec. 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 for the periods presented:
Fiscal Year Ended
in thousands, except per share data December 29,
2022		 December 30,
2021		 December 31,
2020
Net income $ 298,195  $ 283,230  $ 194,981 
Basic weighted average shares outstanding 105,626  104,683  102,690 
Dilutive effect of share-based awards 1,817  2,707  3,452 
Diluted weighted average shares outstanding 107,443  107,390  106,142 
Basic earnings per share $ 2.82  $ 2.71  $ 1.90 
Diluted earnings per share $ 2.78  $ 2.64  $ 1.84 
The following potentially dilutive securities were excluded from the computation of diluted earnings per share as a result of their anti-dilutive effect:
Fiscal Year Ended
in thousands December 29,
2022		 December 30,
2021		 December 31,
2020
Stock options 69  71  320 
Restricted stock units 267  —  —