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Net Income (Loss) per Share (Tables) | 9 Months Ended
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Sep. 24, 2022
Earnings Per Share [Abstract] |
Computation of Basic Net Income (Loss) Per Share | The following table sets forth the computation of basic net income (loss) per share using the two-class method:
|  | Thirteen weeks ended |  |  | Thirty-nine weeks ended |
|  | September 24, 2022 |  |  | September 25, 2021 |  |  | September 24, 2022 |  |  | September 25, 2021 |
|  | (in thousands, except per share data) |  |  | (in thousands, except per share data) |
Net income (loss) |  | $ | 27,286 |  |  | $ | (58,421 | ) |  | $ | 78,680 |  |  | $ | 66,338 |
Allocation of net income (loss) for basic: |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock |  | $ | 22,647 |  |  | $ | (48,356 | ) |  | $ | 65,276 |  |  | $ | 54,586 |
Class B Common Stock |  |  | 4,580 |  |  |  | (9,885 | ) |  |  | 13,214 |  |  |  | 11,502 |
Unvested participating shares |  |  | 59 |  |  |  | (180 | ) |  |  | 190 |  |  |  | 250 |
|  | $ | 27,286 |  |  | $ | (58,421 | ) |  | $ | 78,680 |  |  | $ | 66,338 |
Weighted average number of shares for basic: |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock |  |  | 10,226 |  |  |  | 10,166 |  |  |  | 10,216 |  |  |  | 10,103 |
Class B Common Stock* |  |  | 2,068 |  |  |  | 2,078 |  |  |  | 2,068 |  |  |  | 2,129 |
Unvested participating shares |  |  | 27 |  |  |  | 38 |  |  |  | 29 |  |  |  | 47 |
|  |  | 12,321 |  |  |  | 12,282 |  |  |  | 12,313 |  |  |  | 12,279 |
Net income (loss) per share for basic: |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock |  | $ | 2.21 |  |  | $ | (4.76 | ) |  | $ | 6.39 |  |  | $ | 5.40 |
Class B Common Stock |  | $ | 2.21 |  |  | $ | (4.76 | ) |  | $ | 6.39 |  |  | $ | 5.40 |
*The reduction in Class B Common Stock resulted from the conversion to Class A Common stock during fiscal 2021.
Computation of Diluted Net Income (Loss) Per Share | The following table sets forth the computation of diluted net income (loss) per share, assuming the conversion of all Class B Common Stock into Class A Common Stock for the thirteen and thirty-nine weeks ended September 24, 2022 and for the thirteen and thirty-nine weeks ended September 25, 2021:
|  | Thirteen weeks ended |
|  | September 24, 2022 |  |  | September 25, 2021 |
|  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |  |  | Loss to Common Shareholders |  |  | Common Shares |  |  | EPS |
|  | (in thousands, except per share data) |
As reported - basic |  | $ | 22,647 |  |  |  | 10,226 |  |  | $ | 2.21 |  |  | $ | (48,356 | ) |  |  | 10,166 |  |  | $ | (4.76 | )
Add: effect of dilutive common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Share-based awards |  |  | — |  |  |  | 50 |  |  |  |  |  |  | — |  |  |  | — |  |  |  |
Class B Common Stock |  |  | 4,580 |  |  |  | 2,068 |  |  |  |  |  |  | (9,885 | ) |  |  | 2,078 |  |  |  |
Net effect of unvested participating shares |  |  | — |  |  |  | — |  |  |  |  |  |  | (180 | ) |  |  | 38 |  |  |  |
Net income (loss) per common share - diluted |  | $ | 27,227 |  |  |  | 12,344 |  |  | $ | 2.21 |  |  | $ | (58,421 | ) |  |  | 12,282 |  |  | $ | (4.76 | )
|  | Thirty-nine weeks ended |
|  | September 24, 2022 |  |  | September 25, 2021 |
|  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |  |  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |
|  | (in thousands, except per share data) |
As reported - basic |  | $ | 65,276 |  |  |  | 10,216 |  |  | $ | 6.39 |  |  | $ | 54,586 |  |  |  | 10,103 |  |  | $ | 5.40 |
Add: effect of dilutive common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Share-based awards |  |  | — |  |  |  | 58 |  |  |  |  |  |  | — |  |  |  | 151 |  |  |  |
Class B Common Stock |  |  | 13,214 |  |  |  | 2,068 |  |  |  |  |  |  | 11,502 |  |  |  | 2,129 |  |  |  |
Net effect of unvested participating shares |  |  | 2 |  |  |  | — |  |  |  |  |  |  | 250 |  |  |  | 67 |  |  |  |
Net income per common share - diluted |  | $ | 78,492 |  |  |  | 12,342 |  |  | $ | 6.36 |  |  | $ | 66,338 |  |  |  | 12,450 |  |  | $ | 5.33 |

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