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Net Income per Share (Tables) | 9 Months Ended
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Sep. 26, 2020
Computation of Earnings Per Share, Basic | The following table sets forth the computation of basic net income per share using the two-class method:
|  | Thirteen weeks ended |  |  | Thirty-nine weeks ended |
|  | September 26, |  |  | September 28, |  |  | September 26, |  |  | September 28, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
|  | (in thousands, except per share data) |  |  | (in thousands, except per share data) |
Net income |  | $ | 80,768 |  |  | $ | 44,729 |  |  | $ | 159,143 |  |  | $ | 96,279 |
Allocation of net income for basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock |  | $ | 65,074 |  |  | $ | 33,776 |  |  | $ | 126,146 |  |  | $ | 71,761 |
Class B Common Stock |  |  | 15,254 |  |  |  | 10,581 |  |  |  | 31,996 |  |  |  | 23,652 |
Unvested participating shares |  |  | 440 |  |  |  | 372 |  |  |  | 1,001 |  |  |  | 866 |
|  | $ | 80,768 |  |  | $ | 44,729 |  |  | $ | 159,143 |  |  | $ | 96,279 |
Weighted average number of shares for basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock |  |  | 9,846 |  |  |  | 9,136 |  |  |  | 9,663 |  |  |  | 8,797 |
Class B Common Stock* |  |  | 2,308 |  |  |  | 2,862 |  |  |  | 2,451 |  |  |  | 2,899 |
Unvested participating shares |  |  | 67 |  |  |  | 101 |  |  |  | 77 |  |  |  | 106 |
|  |  | 12,221 |  |  |  | 12,099 |  |  |  | 12,191 |  |  |  | 11,802 |
Net income per share for basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock |  | $ | 6.61 |  |  | $ | 3.70 |  |  | $ | 13.05 |  |  | $ | 8.16 |
Class B Common Stock |  | $ | 6.61 |  |  | $ | 3.70 |  |  | $ | 13.05 |  |  | $ | 8.16 |
*Change in Class B Common Stock resulted from the conversion of 145,000 shares to Class A Common Stock on December 13, 2019, 150,000 shares to Class A Common Stock on March 11, 2020 and 215,000 shares to Class A Common Stock on May 6, 2020 with the ending number of shares reflecting the weighted average for the period.
Computation of Earnings Per Share, Diluted | The following table sets forth the computation of diluted net income per share, assuming the conversion of all Class B Common Stock into Class A Common Stock and using the two-class method for unvested participating shares:
|  | Thirteen weeks ended |
|  | September 26, 2020 |  |  | September 28, 2019 |
|  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |  |  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |
|  |  |  |  |  |  |  |  |  |  | (in thousands, except per share data) |  |  |  |  |  |  |  |  |
As reported—basic |  | $ | 65,074 |  |  |  | 9,846 |  |  | $ | 6.61 |  |  | $ | 33,776 |  |  |  | 9,136 |  |  | $ | 3.70 |
Add: effect of dilutive potential common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Share-based awards |  |  | — |  |  |  | 179 |  |  |  |  |  |  |  | — |  |  |  | 152 |  |  |  |  |
Class B Common Stock |  |  | 15,254 |  |  |  | 2,308 |  |  |  |  |  |  |  | 10,581 |  |  |  | 2,862 |  |  |  |  |
Net effect of unvested participating shares |  |  | 6 |  |  |  | — |  |  |  |  |  |  |  | 4 |  |  |  | — |  |  |  |  |
Net income per common share—diluted |  | $ | 80,334 |  |  |  | 12,333 |  |  | $ | 6.51 |  |  | $ | 44,361 |  |  |  | 12,150 |  |  | $ | 3.65 |
|  | Thirty-nine weeks ended |
|  | September 26, 2020 |  |  | September 28, 2019 |
|  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |  |  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |
|  |  |  |  |  |  |  | (in thousands, except per share data) |  |  |  |  |  |  |
As reported—basic |  | $ | 126,146 |  |  |  | 9,663 |  |  | $ | 13.05 |  |  | $ | 71,761 |  |  |  | 8,797 |  |  | $ | 8.16 |
Add: effect of dilutive potential common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Share-based awards |  |  | — |  |  |  | 145 |  |  |  |  |  |  |  | — |  |  |  | 127 |  |  |  |  |
Class B Common Stock |  |  | 31,996 |  |  |  | 2,451 |  |  |  |  |  |  |  | 23,652 |  |  |  | 2,899 |  |  |  |  |
Net effect of unvested participating shares |  |  | 12 |  |  |  | — |  |  |  |  |  |  |  | 8 |  |  |  | — |  |  |  |  |
Net income per common share—diluted |  | $ | 158,154 |  |  |  | 12,259 |  |  | $ | 12.90 |  |  | $ | 95,421 |  |  |  | 11,823 |  |  | $ | 8.07 |

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