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Earnings Per Share

6 Months Ended

Jul. 02, 2022

Earnings Per Share [Abstract]

Earnings Per Share

10 Earnings Per Share

Basic and diluted EPS calculations are detailed as follows (in thousands, except per share data):

		Three Months Ended July 2, 2022
		Net Income				Weighted- Average Shares				Per Share
		(Numerator)				(Denominator)				Amount
Net income per basic common share		$	164,864				60,206			$	2.74
Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities			—				304				(0.02	)
Net income per diluted common share		$	164,864				60,510			$	2.72

		Three Months Ended July 3, 2021
		Net Income				Weighted- Average Shares				Per Share
		(Numerator)				(Denominator)				Amount
Net income per basic common share		$	167,292				61,685			$	2.71
Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities			—				472				(0.02	)
Net income per diluted common share		$	167,292				62,157			$	2.69

		Six Months Ended July 2, 2022
		Net Income				Weighted- Average Shares				Per Share
		(Numerator)				(Denominator)				Amount
Net income per basic common share		$	324,695				60,399			$	5.38
Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities			—				345				(0.03	)
Net income per diluted common share		$	324,695				60,744			$	5.35

		Six Months Ended July 3, 2021
		Net Income				Weighted- Average Shares				Per Share
		(Numerator)				(Denominator)				Amount
Net income per basic common share		$	315,419				61,979			$	5.09
Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities			—				456				(0.04	)
Net income per diluted common share		$	315,419				62,435			$	5.05

For the three and six months ended July 2, 2022 and July 3, 2021, the Company had fewer than one million stock options that were antidilutive due to having higher exercise prices than the Company’s average stock price during the applicable period. These securities were not included in the computation of diluted EPS. The effect of dilutive securities was calculated using the treasury stock method.

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- References

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI https://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

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