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Earnings Per Share | 12 Months Ended
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Jan. 01, 2022
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share:
(in thousands, except per share amounts) | 2021 |  | 2020 |  | 2019
Numerator: |  |  |  |  |
Net income as reported | $ | 283,806 |  |  | $ | 129,986 |  |  | $ | 139,082 |
Denominator: |  |  |  |  |
Weighted average shares outstanding |  |  |  |  |
Basic | 24,603 |  |  | 24,371 |  |  | 24,576 |
Effect of dilutive securities | 329 |  |  | 221 |  |  | 242 |
Diluted | 24,932 |  |  | 24,592 |  |  | 24,818 |
Earnings Per Share: |  |  |  |  |
Basic earnings per share | $ | 11.54 |  |  | $ | 5.33 |  |  | $ | 5.66 |
Diluted earnings per share | $ | 11.38 |  |  | $ | 5.29 |  |  | $ | 5.60 |
Potential shares of common stock attributable to stock options and restricted shares excluded from the earnings per share calculation because their effect would be anti-dilutive were 20,139, 222,526, and 129,658 shares in 2021, 2020, and 2019, respectively. During the fiscal year 2021, the Company did not repurchase any shares of its common stock. During the fiscal year 2020 and 2019, the Company repurchased 175,110, and 579,916 shares of its common stock totaling $22.9 million and $95.0 million, respectively. See Note 12 Stock-Based Compensation for further discussion.

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