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Earnings Per Share | 6 Months Ended
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Jul. 01, 2023
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share:
|  | Three Months Ended |  | Six Months Ended
(in thousands, except per share amounts) |  | July 1, 2023 |  | July 2, 2022 |  | July 1, 2023 |  | July 2, 2022
Numerator: |  |  |  |  |  |  |  |
Net income as reported |  | $ | 70,071 |  |  | $ | 87,016 |  |  | $ | 158,816 |  |  | $ | 204,534 |
Denominator: |  |  |  |  |  |  |  |
Weighted average shares outstanding |  |  |  |  |  |  |  |
Basic |  | 24,839 |  |  | 24,734 |  |  | 24,810 |  |  | 24,712 |
Effect of dilutive securities |  | 256 |  |  | 251 |  |  | 268 |  |  | 274 |
Diluted |  | 25,095 |  |  | 24,985 |  |  | 25,078 |  |  | 24,986 |
Earnings Per Share: |  |  |  |  |  |  |  |
Basic earnings per share |  | $ | 2.82 |  |  | $ | 3.52 |  |  | $ | 6.40 |  |  | $ | 8.28 |
Diluted earnings per share |  | $ | 2.79 |  |  | $ | 3.48 |  |  | $ | 6.33 |  |  | $ | 8.19 |
Potential shares of common stock relating to stock options and restricted share units excluded from the earnings per share calculation because their effect would be anti-dilutive were 110,598 and 88,130 for the three months ended July 1, 2023 and July 2, 2022, respectively, and 102,283 and 72,970 for the six months ended July 1, 2023 and July 2, 2022, respectively. Share Repurchase Program On April 28, 2021, the Company announced that the Board of Directors authorized a new three year program to repurchase up to $300.0 million in the aggregate of shares of the Company’s common stock for the period May 1, 2021 to April 30, 2024 to replace its previous 2020 program. The Company did not repurchase shares of its common stock for the three and six months ended July 1, 2023, and July 2, 2022.

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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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