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EARNINGS PER SHARE - SCHEDULE OF BASIC AND DILUTED EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 29, 2024 | Oct. 01, 2023 | Sep. 29, 2024 | Oct. 01, 2023
Common stock |  |  |  |
Basic earnings per share: |  |  |  |
Allocation of distributed earnings (cash dividends paid) | $ 202,390 | $ 178,573 | $ 610,328 | $ 484,517
Allocation of undistributed earnings | 131,726 | 211,085 | 457,433 | 644,062
Total earnings—basic | $ 334,116 | $ 389,658 | $ 1,067,761 | $ 1,128,579
Total weighted-average shares—basic (shares) | 147,938 | 150,116 | 148,474 | 149,307
Net income per share - basic (USD per share) | $ 2.26 | $ 2.60 | $ 7.19 | $ 7.56
Diluted earnings per share: |  |  |  |
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock | $ 112,185 | $ 128,919 | $ 356,887 | $ 384,166
Reallocation of undistributed earnings | 0 | 0 | 0 | 0
Total earnings—diluted | $ 446,301 | $ 518,577 | $ 1,424,648 | $ 1,512,745
Conversion of Class B common stock to Common shares outstanding (shares) | 54,614 | 54,614 | 54,614 | 55,447
Total weighted-average shares—diluted (shares) | 203,030 | 205,488 | 203,631 | 205,613
Net income per share - diluted (USD per share) | $ 2.20 | $ 2.52 | $ 7.00 | $ 7.36
Common stock | Employee stock options |  |  |  |
Diluted earnings per share: |  |  |  |
Incremental common shares attributable to dilutive effect of share-based payment arrangements (shares) | 283 | 400 | 300 | 457
Common stock | Performance and restricted stock units |  |  |  |
Diluted earnings per share: |  |  |  |
Incremental common shares attributable to dilutive effect of share-based payment arrangements (shares) | 195 | 358 | 243 | 402
Class B common stock |  |  |  |
Basic earnings per share: |  |  |  |
Allocation of distributed earnings (cash dividends paid) | $ 67,993 | $ 59,146 | $ 203,981 | $ 166,749
Allocation of undistributed earnings | 44,192 | 69,773 | 152,906 | 217,417
Total earnings—basic | $ 112,185 | $ 128,919 | $ 356,887 | $ 384,166
Total weighted-average shares—basic (shares) | 54,614 | 54,614 | 54,614 | 55,447
Net income per share - basic (USD per share) | $ 2.05 | $ 2.36 | $ 6.53 | $ 6.93
Diluted earnings per share: |  |  |  |
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock | $ 0 | $ 0 | $ 0 | $ 0
Reallocation of undistributed earnings | (107) | (264) | (418) | (931)
Total earnings—diluted | $ 112,078 | $ 128,655 | $ 356,469 | $ 383,235
Conversion of Class B common stock to Common shares outstanding (shares) | 0 | 0 | 0 | 0
Total weighted-average shares—diluted (shares) | 54,614 | 54,614 | 54,614 | 55,447
Net income per share - diluted (USD per share) | $ 2.05 | $ 2.36 | $ 6.53 | $ 6.91
Class B common stock | Employee stock options |  |  |  |
Diluted earnings per share: |  |  |  |
Incremental common shares attributable to dilutive effect of share-based payment arrangements (shares) | 0 | 0 | 0 | 0
Class B common stock | Performance and restricted stock units |  |  |  |
Diluted earnings per share: |  |  |  |
Incremental common shares attributable to dilutive effect of share-based payment arrangements (shares) | 0 | 0 | 0 | 0

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