Net Income Per Share

6 Months Ended

Jul. 01, 2017

Net Income Per Share:

The Company presents both basic and diluted net income per share on the face of the unaudited condensed consolidated statements of income. Basic net income per share is calculated by dividing net income by the weighted average number of shares outstanding during the period. Diluted net income per share is calculated by dividing net income by the weighted average diluted shares outstanding. Dilutive shares are computed using the treasury stock method for stock options and restricted stock units. Net income per share is calculated as follows (in thousands, except per share amounts):



	Fiscal three months ended					Fiscal three months ended
	July 1, 2017					June 25, 2016
	Income		Shares	Per Share Amount		Income		Shares	Per Share Amount
Basic net income per share:	$	160,649	128,186	$	1.25	$	156,425	133,564	$	1.17
Dilutive stock options and restricted stock units outstanding	—		536	—		—		998	(0.01		)
Diluted net income per share:	$	160,649	128,722	$	1.25	$	156,425	134,562	$	1.16



	Fiscal six months ended						Fiscal six months ended
	July 1, 2017						June 25, 2016
	Income		Shares	Per Share Amount			Income		Shares	Per Share Amount
Basic net income per share:	$	220,960	129,231	$	1.71		$	224,093	133,597	$	1.68
Dilutive stock options and restricted stock units outstanding	—		675	(0.01		)	—		1,038	(0.02		)
Diluted net income per share:	$	220,960	129,906	$	1.70		$	224,093	134,635	$	1.66

Anti-dilutive stock options excluded from the above calculations totaled approximately 4.1 million and 1.7 million shares for the three months ended July 1, 2017 and June 25, 2016, respectively, and 3.2 million and 1.5 million shares for the fiscal six months ended July 1, 2017 and June 25, 2016, respectively.