Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.21.2
Earnings Per Share
 6 Months Ended
Jul. 01, 2021
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 July 1, 2021 June 25, 2020 July 1, 2021 June 25, 2020
Net income $ 82,916  $ 32,004  $ 158,712  $ 69,067 
Basic weighted average shares outstanding 104,544  102,114  104,309  101,872 
Dilutive effect of share-based awards 2,721  3,352  2,877  3,604 
Diluted weighted average shares outstanding 107,265  105,466  107,186  105,476 
Basic earnings per share $ 0.79  $ 0.31  $ 1.52  $ 0.68 
Diluted earnings per share $ 0.77  $ 0.30  $ 1.48  $ 0.65 
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 July 1, 2021 June 25, 2020 July 1, 2021 June 25, 2020
Stock options 67  591  81  599 
Restricted stock 1  260  1  260 
Restricted stock units 6  106  6  106