Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.23.3
Earnings Per Share
9 Months Ended
Sep. 28, 2023
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 using the treasury stock method.
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 28, 2023 September 29, 2022 September 28, 2023 September 29, 2022
Net income $ 65,923  $ 76,175  $ 208,899  $ 228,958 
Basic weighted average shares outstanding 106,393  105,754  106,187  105,565 
Dilutive effect of share-based awards 1,609  1,716  1,663  1,879 
Diluted weighted average shares outstanding 108,002  107,470  107,850  107,444 
Basic earnings per share $ 0.62  $ 0.72  $ 1.97  $ 2.17 
Diluted earnings per share $ 0.61  $ 0.71  $ 1.94  $ 2.13 
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 28, 2023 September 29, 2022 September 28, 2023 September 29, 2022
Stock options 56  71  56  70 
Restricted stock —  12  —  — 
Restricted stock units 301  14  229