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Net Income Per Share
 9 Months Ended
Sep. 30, 2025
Net Income Per Share  
Net Income Per Share

10.   Net Income Per Share

Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period, reduced by unvested restricted stock awards. As of September 30, 2025 and October 1, 2024, an aggregate of 3.1 million and 3.2 million shares, respectively, of restricted stock and restricted stock units issued were unvested and, therefore, excluded from the calculation of basic earnings per share for the fiscal periods ended on those dates.

Diluted net income per share is computed by dividing net income by the weighted-average number of common stock equivalents outstanding for the period. Common stock equivalents for the 2026 Notes and 2030 Notes are determined by application of the if-converted method, and common stock equivalents for outstanding stock options, restricted stock and restricted stock units are determined by the application of the treasury stock method.

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Thirteen

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Thirteen

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Thirty-Nine

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Thirty-Nine

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Weeks Ended

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Weeks Ended

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Weeks Ended

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Weeks Ended

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September 30, 2025

    

October 1, 2024

    

September 30, 2025

    

October 1, 2024

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(In thousands, except per share data)

Net income

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$

31,899

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$

29,994

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$

119,652

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$

115,629

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Basic weighted-average shares outstanding

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46,608

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47,750

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46,842

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47,734

Dilutive effect of equity awards (1)

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2,008

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1,196

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1,791

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1,017

Diluted weighted-average shares outstanding

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48,616

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48,946

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48,633

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48,751

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Basic net income per share

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$

0.68

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$

0.63

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$

2.55

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$

2.42

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Diluted net income per share

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$

0.66

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$

0.61

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$

2.46

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$

2.37

(1)Shares of common stock equivalents related to outstanding stock options, restricted stock and restricted stock units of 1.1 million and 2.7 million for September 30, 2025 and October 1, 2024, respectively, were excluded from the diluted calculation due to their anti-dilutive effect. No shares of common stock equivalents related to the 2026 Notes or 2030 Notes were included in the diluted calculation due to their anti-dilutive effect.