Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

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Earnings Per Share
6 Months Ended
Jun. 27, 2024
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 for the periods presented:
Thirteen Weeks Ended Twenty-six Weeks Ended
in thousands, except per share data June 27, 2024 June 29, 2023 June 27, 2024 June 29, 2023
Net income $ 56,666  $ 71,452  $ 106,698  $ 142,976 
Basic weighted average shares outstanding 107,046  106,206  106,908  106,084 
Dilutive effect of share-based awards 1,228  1,599  1,358  1,680 
Diluted weighted average shares outstanding 108,274  107,805  108,266  107,764 
Basic earnings per share $ 0.53  $ 0.67  $ 1.00  $ 1.35 
Diluted earnings per share $ 0.52  $ 0.66  $ 0.99  $ 1.33 
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 27, 2024 June 29, 2023 June 27, 2024 June 29, 2023
Stock options 56  56 
Restricted stock units —  251  —  255