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Earnings Per Share
 6 Months Ended
Jul. 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

 

 

26-Weeks Ended

 

 

 

July 1,
2023

 

 

June 25,
2022

 

 

July 1,
2023

 

 

June 25,
2022

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

287,939

 

 

$

257,873

 

 

$

490,266

 

 

$

469,464

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

191,293

 

 

 

193,074

 

 

 

191,395

 

 

 

192,980

 

 

 

 

 

 

 

 

 

 

 

 

 

Effect of dilutive equity awards

 

 

304

 

 

 

376

 

 

 

346

 

 

 

535

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

191,597

 

 

 

193,450

 

 

 

191,741

 

 

 

193,515

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income per share

 

$

1.51

 

 

$

1.34

 

 

$

2.56

 

 

$

2.43

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income per share

 

$

1.50

 

 

$

1.33

 

 

$

2.56

 

 

$

2.43

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares excluded from diluted net income per share calculation:

 

 

 

 

 

 

 

 

 

 

 

 

Anti-dilutive equity awards

 

 

218

 

 

 

757

 

 

 

218

 

 

 

761