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Earnings Per Share
 12 Months Ended
Dec. 26, 2020
Earnings Per Share [Abstract]  
Earnings Per Share

10. Earnings Per Share

The following table sets forth the computation of basic and diluted net income per share:

 

 

 

Fiscal Year Ended

 

 

 

December 26, 2020

 

 

December 28, 2019

 

 

December 29, 2018

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for basic and diluted net income per share - net income

 

$

992,324

 

 

$

952,486

 

 

$

694,080

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic net income per share – weighted-average common shares

 

 

191,085

 

 

 

189,931

 

 

 

188,635

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effect of dilutive equity awards

 

 

810

 

 

 

968

 

 

 

1,099

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for diluted net income per share – adjusted weighted-average common shares

 

 

191,895

 

 

 

190,899

 

 

 

189,734

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income per share

 

$

5.19

 

 

$

5.01

 

 

$

3.68

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income per share

 

$

5.17

 

 

$

4.99

 

 

$

3.66

 

 

There were 307,724 and 297,995 outstanding stock options, stock appreciation rights, and restricted stock units (collectively “equity awards”) excluded from the computation of diluted earnings per share for the 2020 and 2019 fiscal years, respectively, because the effect would have been anti-dilutive.