Net Income Per Share

6 Months Ended

Jun. 29, 2019

Net Income Per Share:

The Company presents both basic and diluted net income per share on the 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 during the period. Dilutive shares are computed using the treasury stock method for share-based awards. Performance-based restricted share units are included in diluted shares only if the related performance conditions are considered satisfied as of the end of the reporting period. Net income per share is calculated as follows (in thousands, except per share amounts):



	Fiscal Three Months Ended						Fiscal Three Months Ended
	June 29, 2019						June 30, 2018
	Income		Shares	Per Share Amount			Income		Shares	Per Share Amount
Basic net income per share:	$	219,210	120,371	$	1.82		$	207,289	122,100	$	1.70
Dilutive effect of share-based awards	—		1,137	(0.02		)	—		675	(0.01		)
Diluted net income per share:	$	219,210	121,508	$	1.80		$	207,289	122,775	$	1.69



	Fiscal Six Months Ended						Fiscal Six Months Ended
	June 29, 2019						June 30, 2018
	Income		Shares	Per Share Amount			Income		Shares	Per Share Amount
Basic net income per share:	$	296,042	120,791	$	2.45		$	278,722	123,288	$	2.26
Dilutive effect of share-based awards	—		1,039	(0.02		)	—		687	(0.01		)
Diluted net income per share:	$	296,042	121,830	$	2.43		$	278,722	123,975	$	2.25

Anti-dilutive stock awards excluded from the above calculations totaled approximately 0.3 million and 3.8 million shares for the fiscal three months ended June 29, 2019 and June 30, 2018, respectively, and 0.3 million and 3.7 million shares for the fiscal six months ended June 29, 2019 and June 30, 2018, respectively.