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Net Income Per Share
6 Months Ended
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, 2024July 1, 2023
 IncomeSharesPer Share
Amount
IncomeSharesPer 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, 2024July 1, 2023
IncomeSharesPer Share
Amount
IncomeSharesPer 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.