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Earnings Per Share | 3 Months Ended
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Mar. 30, 2023
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share Net Income per Common Share The Company calculates basic earnings per share by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding adjusted for the dilutive effect of share-based awards. The following table shows the computation of basic and diluted earnings per share:
|  | Thirteen Weeks Ended |  |
in thousands, except per share data |  | March 30, 2023 |  | March 31, 2022 |  |  |  |
Net income |  | $ | 71,524 |  |  | $ | 70,951 |  |  |  |  |
Basic weighted average shares outstanding |  | 105,962 |  |  | 105,398 |  |  |  |  |
Dilutive effect of share-based awards |  | 1,756 |  |  | 2,141 |  |  |  |  |
Diluted weighted average shares outstanding |  | 107,718 |  |  | 107,539 |  |  |  |  |
Basic earnings per share |  | $ | 0.67 |  |  | $ | 0.67 |  |  |  |  |
Diluted earnings per share |  | $ | 0.66 |  |  | $ | 0.66 |  |  |  |  |
The following potentially dilutive securities were excluded from the computation of diluted earnings per share as a result of their anti-dilutive effect:
|  | Thirteen Weeks Ended |  |
in thousands |  | March 30, 2023 |  | March 31, 2022 |  |  |  |
Stock options |  | 62 |  |  | 70 |  |  |  |  |
Restricted stock units |  | 291 |  |  | 212 |  |  |  |  |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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