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EARNINGS PER SHARE (Tables) | 6 Months Ended
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Jul. 02, 2023
Earnings Per Share [Abstract] |
Schedule of Basic and Diluted Earnings Per Share |
|  | Three Months Ended
|  | July 2, 2023 |  | July 3, 2022
|  | Common Stock |  | Class B Common Stock |  | Common Stock |  | Class B Common Stock
Basic earnings per share: |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Allocation of distributed earnings (cash dividends paid) |  | $ | 152,389 |  |  | $ | 53,801 |  |  | $ | 131,077 |  |  | $ | 48,823 |
Allocation of undistributed earnings |  | 150,090 |  |  | 50,703 |  |  | 99,227 |  |  | 36,429 |
Total earnings—basic |  | $ | 302,479 |  |  | $ | 104,504 |  |  | $ | 230,304 |  |  | $ | 85,252 |
Denominator (shares in thousands): |  |  |  |  |  |  |  |
Total weighted-average shares—basic |  | 149,244 |  |  | 55,447 |  |  | 146,362 |  |  | 59,114 |
Earnings Per Share—basic |  | $ | 2.03 |  |  | $ | 1.88 |  |  | $ | 1.57 |  |  | $ | 1.44 |
Diluted earnings per share: |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Allocation of total earnings used in basic computation |  | $ | 302,479 |  |  | $ | 104,504 |  |  | $ | 230,304 |  |  | $ | 85,252 |
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock |  | 104,504 |  |  | — |  |  | 85,252 |  |  | — |
Reallocation of undistributed earnings |  | — |  |  | (213) |  |  | — |  |  | (189) |
Total earnings—diluted |  | $ | 406,983 |  |  | $ | 104,291 |  |  | $ | 315,556 |  |  | $ | 85,063 |
Denominator (shares in thousands): |  |  |  |  |  |  |  |
Number of shares used in basic computation |  | 149,244 |  |  | 55,447 |  |  | 146,362 |  |  | 59,114 |
Weighted-average effect of dilutive securities: |  |  |  |  |  |  |  |
Conversion of Class B common stock to Common shares outstanding |  | 55,447 |  |  | — |  |  | 59,114 |  |  | — |
Employee stock options |  | 468 |  |  | — |  |  | 585 |  |  | — |
Performance and restricted stock units |  | 374 |  |  | — |  |  | 388 |  |  | — |
Total weighted-average shares—diluted |  | 205,533 |  |  | 55,447 |  |  | 206,449 |  |  | 59,114 |
Earnings Per Share—diluted |  | $ | 1.98 |  |  | $ | 1.88 |  |  | $ | 1.53 |  |  | $ | 1.44 |
|  | Six Months Ended
|  | July 2, 2023 |  | July 3, 2022
|  | Common Stock |  | Class B Common Stock |  | Common Stock |  | Class B Common Stock
Basic earnings per share: |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Allocation of distributed earnings (cash dividends paid) |  | $ | 305,944 |  |  | $ | 107,602 |  |  | $ | 263,337 |  |  | $ | 97,647 |
Allocation of undistributed earnings |  | 432,943 |  |  | 147,679 |  |  | 356,240 |  |  | 131,810 |
Total earnings—basic |  | $ | 738,887 |  |  | $ | 255,281 |  |  | $ | 619,577 |  |  | $ | 229,457 |
Denominator (shares in thousands): |  |  |  |  |  |  |  |
Total weighted-average shares—basic |  | 148,914 |  |  | 55,864 |  |  | 146,248 |  |  | 59,530 |
Earnings Per Share—basic |  | $ | 4.96 |  |  | $ | 4.57 |  |  | $ | 4.24 |  |  | $ | 3.85 |
Diluted earnings per share: |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Allocation of total earnings used in basic computation |  | $ | 738,887 |  |  | $ | 255,281 |  |  | $ | 619,577 |  |  | $ | 229,457 |
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock |  | 255,281 |  |  | — |  |  | 229,457 |  |  | — |
Reallocation of undistributed earnings |  | — |  |  | (669) |  |  | — |  |  | (722) |
Total earnings—diluted |  | $ | 994,168 |  |  | $ | 254,612 |  |  | $ | 849,034 |  |  | $ | 228,735 |
Denominator (shares in thousands): |  |  |  |  |  |  |  |
Number of shares used in basic computation |  | 148,914 |  |  | 55,864 |  |  | 146,248 |  |  | 59,530 |
Weighted-average effect of dilutive securities: |  |  |  |  |  |  |  |
Conversion of Class B common stock to Common shares outstanding |  | 55,864 |  |  | — |  |  | 59,530 |  |  | — |
Employee stock options |  | 486 |  |  | — |  |  | 592 |  |  | — |
Performance and restricted stock units |  | 423 |  |  | — |  |  | 491 |  |  | — |
Total weighted-average shares—diluted |  | 205,687 |  |  | 55,864 |  |  | 206,861 |  |  | 59,530 |
Earnings Per Share—diluted |  | $ | 4.83 |  |  | $ | 4.56 |  |  | $ | 4.10 |  |  | $ | 3.84 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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