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Net Income Per Share | 6 Months Ended
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Jun. 28, 2024
Earnings Per Share [Abstract] |
NET INCOME PER SHARE | NET INCOME PER SHARE Net income per share — basic and diluted, were computed as follows (in thousands, except per share amounts):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Numerator: |  |  |  |  |  |  |  |  |
Net income | $ | 226,116 |  |  | $ | 81,178 |  |  | $ | 263,433 |  |  | $ | 121,206 |  |  |
Denominator: |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding — basic | 289,216 |  |  | 324,205 |  |  | 294,986 |  |  | 324,312 |  |  |
Dilutive securities | 4,758 |  |  | 3,100 |  |  | 4,766 |  |  | 2,480 |  |  |
Weighted-average common shares outstanding — diluted | 293,974 |  |  | 327,305 |  |  | 299,752 |  |  | 326,792 |  |  |
Net income per share — basic | $ | 0.78 |  |  | $ | 0.25 |  |  | $ | 0.89 |  |  | $ | 0.37 |  |  |
Net income per share — diluted | $ | 0.77 |  |  | $ | 0.25 |  |  | $ | 0.88 |  |  | $ | 0.37 |  |  |
Basic net income per share is computed using the weighted-average number of common shares outstanding during the periods. The diluted net income per share is computed using the weighted-average number of shares and dilutive potential common shares outstanding during the periods. Dilutive shares outstanding includes the dilutive effect of in-the-money options, unvested RSUs (including TSR-based RSUs), unvested PSUs when the performance condition is met and ESPP contributions. The dilutive effect of such equity awards is calculated based on the average share price for each fiscal period using the treasury stock method. Certain potential common shares were excluded from our calculation of weighted-average common shares outstanding — diluted because either they would have had an anti-dilutive effect on net income per share or they were related to shares from PSUs that were contingently issuable and the contingency had not been satisfied at the end of the reporting period. The weighted-average potential common shares excluded from our calculation were as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Anti-dilutive securities and contingently issuable shares excluded | 8,788 |  |  | 13,757 |  |  | 8,840 |  |  | 14,674 |  |  |

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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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