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Net Income Per Share | 6 Months Ended
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Jun. 29, 2024
Earnings Per Share [Abstract] |
Net Income Per Share | Net Income Per Share The Company presents both basic and diluted net income per share on the 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
| June 29, 2024 |  | July 1, 2023
| Income |  | Shares |  | Per Share Amount |  | Income |  | Shares |  | Per Share Amount
Basic net income per share: | $ | 425,196 |  |  | 107,730 |  |  | $ | 3.95 |  |  | $ | 421,234 |  |  | 109,426 |  |  | $ | 3.85 |
Dilutive effect of share-based awards | — |  |  | 505 |  |  | (0.02) |  |  | — |  |  | 615 |  |  | (0.02) |
Diluted net income per share: | $ | 425,196 |  |  | 108,235 |  |  | $ | 3.93 |  |  | $ | 421,234 |  |  | 110,041 |  |  | $ | 3.83 |
| Fiscal Six Months Ended
| June 29, 2024 |  | July 1, 2023
| Income |  | Shares |  | Per Share Amount |  | Income |  | Shares |  | Per Share Amount
Basic net income per share: | $ | 623,363 |  |  | 107,838 |  |  | $ | 5.78 |  |  | $ | 604,322 |  |  | 109,735 |  |  | $ | 5.51 |
Dilutive effect of share-based awards | — |  |  | 543 |  |  | (0.03) |  |  | — |  |  | 676 |  |  | (0.04) |
Diluted net income per share: | $ | 623,363 |  |  | 108,381 |  |  | $ | 5.75 |  |  | $ | 604,322 |  |  | 110,411 |  |  | $ | 5.47 |
Anti-dilutive stock awards excluded from the above calculations totaled approximately 0.2 million shares for the fiscal three months ended June 29, 2024 and approximately 0.2 million shares for the fiscal three months ended July 1, 2023. Anti-dilutive stock awards excluded from the above calculations totaled approximately 0.3 million shares for the fiscal six months ended June 29, 2024 and approximately 0.2 million shares for the fiscal six months ended July 1, 2023.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
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