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Net Income per Share (Tables) | 9 Months Ended
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Sep. 30, 2023
Earnings Per Share [Abstract] |
Computation of Net Income 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 30, 2023 |  |  | September 24, 2022 |  |  | September 30, 2023 |  |  | September 24, 2022 |
|  | (in thousands, except per share data) |  |  | (in thousands, except per share data) |
Net income |  | $ | 45,295 |  |  | $ | 27,286 |  |  | $ | 94,374 |  |  | $ | 78,680 |
Allocation of net income for basic: |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock |  | $ | 37,542 |  |  | $ | 22,647 |  |  | $ | 78,276 |  |  | $ | 65,276 |
Class B Common Stock |  |  | 7,660 |  |  |  | 4,580 |  |  |  | 15,908 |  |  |  | 13,214 |
Unvested participating shares |  |  | 93 |  |  |  | 59 |  |  |  | 190 |  |  |  | 190 |
|  | $ | 45,295 |  |  | $ | 27,286 |  |  | $ | 94,374 |  |  | $ | 78,680 |
Weighted average number of shares for basic: |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock |  |  | 10,135 |  |  |  | 10,226 |  |  |  | 10,175 |  |  |  | 10,216 |
Class B Common Stock |  |  | 2,068 |  |  |  | 2,068 |  |  |  | 2,068 |  |  |  | 2,068 |
Unvested participating shares |  |  | 25 |  |  |  | 27 |  |  |  | 25 |  |  |  | 29 |
|  |  | 12,228 |  |  |  | 12,321 |  |  |  | 12,268 |  |  |  | 12,313 |
Net income per share for basic: |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock |  | $ | 3.70 |  |  | $ | 2.21 |  |  | $ | 7.69 |  |  | $ | 6.39 |
Class B Common Stock |  | $ | 3.70 |  |  | $ | 2.21 |  |  | $ | 7.69 |  |  | $ | 6.39 |
Computation of Net Income per Share, Diluted | The following table sets forth the computations of diluted net income per share, assuming the conversion of all Class B Common Stock into Class A Common Stock for the thirteen w eeks and thirty-nine weeks ended September 30, 2023 and for the thirteen and thirty-nine weeks ended September 24, 2022:
|  | Thirteen weeks ended |
|  | September 30, 2023 |  |  | September 24, 2022 |
|  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |  |  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |
|  | (in thousands, except per share data) |
As reported - basic |  | $ | 37,542 |  |  |  | 10,135 |  |  | $ | 3.70 |  |  | $ | 22,647 |  |  |  | 10,226 |  |  | $ | 2.21 |
Add: effect of dilutive common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Share-based awards |  |  | — |  |  |  | 30 |  |  |  |  |  |  | — |  |  |  | 50 |  |  |  |
Class B Common Stock |  |  | 7,660 |  |  |  | 2,068 |  |  |  |  |  |  | 4,580 |  |  |  | 2,068 |  |  |  |
Net effect of unvested participating shares |  |  | 1 |  |  |  | — |  |  |  |  |  |  | — |  |  |  | — |  |  |  |
Net income per common share - diluted |  | $ | 45,203 |  |  |  | 12,233 |  |  | $ | 3.70 |  |  | $ | 27,227 |  |  |  | 12,344 |  |  | $ | 2.21 |
|  | Thirty-nine weeks ended |
|  | September 30, 2023 |  |  | September 24, 2022 |
|  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |  |  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |
|  | (in thousands, except per share data) |
As reported - basic |  | $ | 78,276 |  |  |  | 10,175 |  |  | $ | 7.69 |  |  | $ | 65,276 |  |  |  | 10,216 |  |  | $ | 6.39 |
Add: effect of dilutive common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Share-based awards |  |  | — |  |  |  | 37 |  |  |  |  |  |  | — |  |  |  | 58 |  |  |  |
Class B Common Stock |  |  | 15,908 |  |  |  | 2,068 |  |  |  |  |  |  | 13,214 |  |  |  | 2,068 |  |  |  |
Net effect of unvested participating shares |  |  | 1 |  |  |  | — |  |  |  |  |  |  | 2 |  |  |  | — |  |  |  |
Net income per common share - diluted |  | $ | 94,185 |  |  |  | 12,280 |  |  | $ | 7.67 |  |  | $ | 78,492 |  |  |  | 12,342 |  |  | $ | 6.36 |

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