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Earnings Per Share (Tables)
3 Months Ended
Mar. 27, 2021
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Net Income Per Share

The following table sets forth the computation of basic and diluted net income per share. Stock options, stock appreciation rights, and restricted stock units are collectively referred to as “equity awards”.

 

 

 

13-Weeks Ended

 

 

 

March 27, 2021

 

 

March 28, 2020

 

Numerator:

 

 

 

 

 

 

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

 

$

220,029

 

 

$

161,180

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

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

 

 

191,896

 

 

 

190,803

 

 

 

 

 

 

 

Effect of dilutive equity awards

 

 

914

 

 

 

881

 

 

 

 

 

 

 

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

 

 

192,810

 

 

 

191,684

 

 

 

 

 

 

 

Basic net income per share

 

$

1.15

 

 

$

0.84

 

 

 

 

 

 

 

Diluted net income per share

 

$

1.14

 

 

$

0.84

 

 

 

 

 

 

 

Shares excluded from diluted net income per share calculation:

 

 

 

 

 

 

Anti-dilutive equity awards

 

 

316

 

 

 

412