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Earnings Per Share
 3 Months Ended
Apr. 01, 2023
Earnings Per Share [Abstract]  
Earnings Per Share

3. Earnings 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

 

 

 

April 1, 2023

 

 

March 26, 2022

 

Numerator:

 

 

 

 

 

 

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

 

$

202,327

 

 

$

211,592

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

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

 

 

191,498

 

 

 

192,887

 

 

 

 

 

 

 

Effect of dilutive equity awards

 

 

388

 

 

 

692

 

 

 

 

 

 

 

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

 

 

191,886

 

 

 

193,579

 

 

 

 

 

 

 

Basic net income per share

 

$

1.06

 

 

$

1.10

 

 

 

 

 

 

 

Diluted net income per share

 

$

1.05

 

 

$

1.09

 

 

 

 

 

 

 

Shares excluded from diluted net income per share calculation:

 

 

 

 

 

 

Anti-dilutive equity awards

 

 

218

 

 

 

764