Net Income Per Share

9 Months Ended

Sep. 30, 2023

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
	September 30, 2023					September 24, 2022
	Income		Shares	Per Share Amount		Income		Shares	Per Share Amount
Basic net income per share:	$	255,001	108,774	$	2.34	$	234,137	110,861	$	2.11
Dilutive effect of share-based awards	—		568	(0.01)		—		699	(0.01)
Diluted net income per share:	$	255,001	109,342	$	2.33	$	234,137	111,560	$	2.10


	Fiscal Nine Months Ended
	September 30, 2023					September 24, 2022
	Income		Shares	Per Share Amount		Income		Shares	Per Share Amount
Basic net income per share:	$	859,323	109,415	$	7.85	$	817,842	111,660	$	7.32
Dilutive effect of share-based awards	—		640	(0.04)		—		801	(0.05)
Diluted net income per share:	$	859,323	110,055	$	7.81	$	817,842	112,461	$	7.27

Anti-dilutive stock awards excluded from the above calculations totaled approximately 0.2 million shares for the fiscal three months ended September 30, 2023 and 0.1 million shares for fiscal three months ended September 24, 2022. Anti-dilutive stock awards excluded from the above calculations totaled approximately 0.2 million shares for the fiscal nine months ended September 30, 2023 and approximately 0.1 million shares for the fiscal nine months ended September 24, 2022.