Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.22.2
Earnings Per Share
 6 Months Ended
Jun. 30, 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 Twenty-six Weeks Ended
in thousands, except per share data June 30, 2022 July 1, 2021 June 30, 2022 July 1, 2021
Net income $ 81,832  $ 82,916  $ 152,783  $ 158,712 
Basic weighted average shares outstanding 105,545  104,544  105,471  104,309 
Dilutive effect of share-based awards 1,755  2,721  1,960  2,877 
Diluted weighted average shares outstanding 107,300  107,265  107,431  107,186 
Basic earnings per share $ 0.78  $ 0.79  $ 1.45  $ 1.52 
Diluted earnings per share $ 0.76  $ 0.77  $ 1.42  $ 1.48 
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 Twenty-six Weeks Ended
in thousands June 30, 2022 July 1, 2021 June 30, 2022 July 1, 2021
Stock options 73  67  71  81 
Restricted stock 12  1  —  1 
Restricted stock units 318  6  225  6