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EARNINGS PER SHARE (Tables) | 9 Months Ended
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Sep. 29, 2024
Earnings Per Share [Abstract] |
Schedule of Basic and Diluted Earnings Per Share |
|  | Three Months Ended
|  | September 29, 2024 |  | October 1, 2023
|  | Common Stock |  | Class B Common Stock |  | Common Stock |  | Class B Common Stock
Basic earnings per share: |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Allocation of distributed earnings (cash dividends paid) |  | $ | 202,390 |  |  | $ | 67,993 |  |  | $ | 178,573 |  |  | $ | 59,146 |
Allocation of undistributed earnings |  | 131,726 |  |  | 44,192 |  |  | 211,085 |  |  | 69,773 |
Total earnings—basic |  | $ | 334,116 |  |  | $ | 112,185 |  |  | $ | 389,658 |  |  | $ | 128,919 |
Denominator (shares in thousands): |  |  |  |  |  |  |  |
Total weighted-average shares—basic |  | 147,938 |  |  | 54,614 |  |  | 150,116 |  |  | 54,614 |
Earnings Per Share—basic |  | $ | 2.26 |  |  | $ | 2.05 |  |  | $ | 2.60 |  |  | $ | 2.36 |
Diluted earnings per share: |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Allocation of total earnings used in basic computation |  | $ | 334,116 |  |  | $ | 112,185 |  |  | $ | 389,658 |  |  | $ | 128,919 |
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock |  | 112,185 |  |  | — |  |  | 128,919 |  |  | — |
Reallocation of undistributed earnings |  | — |  |  | (107) |  |  | — |  |  | (264) |
Total earnings—diluted |  | $ | 446,301 |  |  | $ | 112,078 |  |  | $ | 518,577 |  |  | $ | 128,655 |
Denominator (shares in thousands): |  |  |  |  |  |  |  |
Number of shares used in basic computation |  | 147,938 |  |  | 54,614 |  |  | 150,116 |  |  | 54,614 |
Weighted-average effect of dilutive securities: |  |  |  |  |  |  |  |
Conversion of Class B common stock to Common shares outstanding |  | 54,614 |  |  | — |  |  | 54,614 |  |  | — |
Employee stock options |  | 283 |  |  | — |  |  | 400 |  |  | — |
Performance and restricted stock units |  | 195 |  |  | — |  |  | 358 |  |  | — |
Total weighted-average shares—diluted |  | 203,030 |  |  | 54,614 |  |  | 205,488 |  |  | 54,614 |
Earnings Per Share—diluted |  | $ | 2.20 |  |  | $ | 2.05 |  |  | $ | 2.52 |  |  | $ | 2.36 |
|  | Nine Months Ended
|  | September 29, 2024 |  | October 1, 2023
|  | Common Stock |  | Class B Common Stock |  | Common Stock |  | Class B Common Stock
Basic earnings per share: |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Allocation of distributed earnings (cash dividends paid) |  | $ | 610,328 |  |  | $ | 203,981 |  |  | $ | 484,517 |  |  | $ | 166,749 |
Allocation of undistributed earnings |  | 457,433 |  |  | 152,906 |  |  | 644,062 |  |  | 217,417 |
Total earnings—basic |  | $ | 1,067,761 |  |  | $ | 356,887 |  |  | $ | 1,128,579 |  |  | $ | 384,166 |
Denominator (shares in thousands): |  |  |  |  |  |  |  |
Total weighted-average shares—basic |  | 148,474 |  |  | 54,614 |  |  | 149,307 |  |  | 55,447 |
Earnings Per Share—basic |  | $ | 7.19 |  |  | $ | 6.53 |  |  | $ | 7.56 |  |  | $ | 6.93 |
Diluted earnings per share: |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |
Allocation of total earnings used in basic computation |  | $ | 1,067,761 |  |  | $ | 356,887 |  |  | $ | 1,128,579 |  |  | $ | 384,166 |
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock |  | 356,887 |  |  | — |  |  | 384,166 |  |  | — |
Reallocation of undistributed earnings |  | — |  |  | (418) |  |  | — |  |  | (931) |
Total earnings—diluted |  | $ | 1,424,648 |  |  | $ | 356,469 |  |  | $ | 1,512,745 |  |  | $ | 383,235 |
Denominator (shares in thousands): |  |  |  |  |  |  |  |
Number of shares used in basic computation |  | 148,474 |  |  | 54,614 |  |  | 149,307 |  |  | 55,447 |
Weighted-average effect of dilutive securities: |  |  |  |  |  |  |  |
Conversion of Class B common stock to Common shares outstanding |  | 54,614 |  |  | — |  |  | 55,447 |  |  | — |
Employee stock options |  | 300 |  |  | — |  |  | 457 |  |  | — |
Performance and restricted stock units |  | 243 |  |  | — |  |  | 402 |  |  | — |
Total weighted-average shares—diluted |  | 203,631 |  |  | 54,614 |  |  | 205,613 |  |  | 55,447 |
Earnings Per Share—diluted |  | $ | 7.00 |  |  | $ | 6.53 |  |  | $ | 7.36 |  |  | $ | 6.91 |

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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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