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Net Income Per Share | 3 Months Ended
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Mar. 29, 2025
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
| March 29, 2025 |  | March 30, 2024
| Income |  | Shares |  | Per Share Amount |  | Income |  | Shares(a) |  | Per Share Amount(a)
Basic net income per share: | $ | 179,369 |  |  | 531,730 |  |  | $ | 0.34 |  |  | $ | 198,167 |  |  | 539,730 |  |  | $ | 0.37 |
Dilutive effect of share-based awards | — |  |  | 2,369 |  |  | — |  |  | — |  |  | 2,908 |  |  | — |
Diluted net income per share: | $ | 179,369 |  |  | 534,099 |  |  | $ | 0.34 |  |  | $ | 198,167 |  |  | 542,638 |  |  | $ | 0.37 |
(a) All share and per share amounts have been adjusted to reflect the five-for-one Stock Split effective December 20, 2024. Anti-dilutive stock awards excluded from the above calculations totaled approximately 0.4 million shares for the fiscal three months ended March 29, 2025 and approximately 1.6 million shares for fiscal three months ended March 30, 2024.

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