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Earnings Per Share | 6 Months Ended
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Jun. 27, 2024
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 using the treasury stock method. The following table shows the computation of basic and diluted earnings per share for the periods presented:
|  | Thirteen Weeks Ended |  | Twenty-six Weeks Ended
in thousands, except per share data |  | June 27, 2024 |  | June 29, 2023 |  | June 27, 2024 |  | June 29, 2023
Net income |  | $ | 56,666 |  |  | $ | 71,452 |  |  | $ | 106,698 |  |  | $ | 142,976 |
Basic weighted average shares outstanding |  | 107,046 |  |  | 106,206 |  |  | 106,908 |  |  | 106,084 |
Dilutive effect of share-based awards |  | 1,228 |  |  | 1,599 |  |  | 1,358 |  |  | 1,680 |
Diluted weighted average shares outstanding |  | 108,274 |  |  | 107,805 |  |  | 108,266 |  |  | 107,764 |
Basic earnings per share |  | $ | 0.53 |  |  | $ | 0.67 |  |  | $ | 1.00 |  |  | $ | 1.35 |
Diluted earnings per share |  | $ | 0.52 |  |  | $ | 0.66 |  |  | $ | 0.99 |  |  | $ | 1.33 |
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 |  | Twenty-six Weeks Ended
in thousands |  | June 27, 2024 |  | June 29, 2023 |  | June 27, 2024 |  | June 29, 2023
Stock options |  | 1 |  |  | 56 |  |  | 2 |  |  | 56 |
Restricted stock units |  | — |  |  | 251 |  |  | — |  |  | 255 |

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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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