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Net Income per Share (Tables) | 9 Months Ended
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Sep. 28, 2024
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 28, 2024 |  |  | September 30, 2023 |  |  | September 28, 2024 |  |  | September 30, 2023 |
|  | (in thousands, except per share data) |  |  | (in thousands, except per share data) |
Net income |  | $ | 33,514 |  |  | $ | 45,295 |  |  | $ | 98,450 |  |  | $ | 94,374 |
Allocation of net income for basic: |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock |  | $ | 27,500 |  |  | $ | 37,542 |  |  | $ | 81,082 |  |  | $ | 78,276 |
Class B Common Stock |  |  | 5,933 |  |  |  | 7,660 |  |  |  | 17,140 |  |  |  | 15,908 |
Unvested participating shares |  |  | 81 |  |  |  | 93 |  |  |  | 228 |  |  |  | 190 |
|  | $ | 33,514 |  |  | $ | 45,295 |  |  | $ | 98,450 |  |  | $ | 94,374 |
Weighted average number of shares for basic: |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock |  |  | 9,586 |  |  |  | 10,135 |  |  |  | 9,783 |  |  |  | 10,175 |
Class B Common Stock |  |  | 2,068 |  |  |  | 2,068 |  |  |  | 2,068 |  |  |  | 2,068 |
Unvested participating shares |  |  | 28 |  |  |  | 25 |  |  |  | 27 |  |  |  | 25 |
|  |  | 11,682 |  |  |  | 12,228 |  |  |  | 11,878 |  |  |  | 12,268 |
Net income per share for basic: |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock |  | $ | 2.87 |  |  | $ | 3.70 |  |  | $ | 8.29 |  |  | $ | 7.69 |
Class B Common Stock |  | $ | 2.87 |  |  | $ | 3.70 |  |  | $ | 8.29 |  |  | $ | 7.69 |
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 28, 2024 and for the thirteen weeks and thirty-nine ended September 30, 2023:
|  | Thirteen weeks ended |
|  | September 28, 2024 |  |  | September 30, 2023 |
|  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |  |  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |
|  | (in thousands, except per share data) |
As reported - basic |  | $ | 27,500 |  |  |  | 9,586 |  |  | $ | 2.87 |  |  | $ | 37,542 |  |  |  | 10,135 |  |  | $ | 3.70 |
Add: effect of dilutive common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Share-based awards |  |  | — |  |  |  | 17 |  |  |  |  |  |  | — |  |  |  | 30 |  |  |  |
Class B Common Stock |  |  | 5,933 |  |  |  | 2,068 |  |  |  |  |  |  | 7,660 |  |  |  | 2,068 |  |  |  |
Net effect of unvested participating shares |  |  | — |  |  |  | — |  |  |  |  |  |  | 1 |  |  |  | — |  |  |  |
Net income per common share - diluted |  | $ | 33,433 |  |  |  | 11,671 |  |  | $ | 2.86 |  |  | $ | 45,203 |  |  |  | 12,233 |  |  | $ | 3.70 |
|  | Thirty-nine weeks ended |
|  | September 28, 2024 |  |  | September 30, 2023 |
|  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |  |  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |
|  | (in thousands, except per share data) |
As reported - basic |  | $ | 81,082 |  |  |  | 9,783 |  |  | $ | 8.29 |  |  | $ | 78,276 |  |  |  | 10,175 |  |  | $ | 7.69 |
Add: effect of dilutive common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Share-based awards |  |  | — |  |  |  | 20 |  |  |  |  |  |  | — |  |  |  | 37 |  |  |  |
Class B Common Stock |  |  | 17,140 |  |  |  | 2,068 |  |  |  |  |  |  | 15,908 |  |  |  | 2,068 |  |  |  |
Net effect of unvested participating shares |  |  | — |  |  |  | — |  |  |  |  |  |  | 1 |  |  |  | — |  |  |  |
Net income per common share - diluted |  | $ | 98,222 |  |  |  | 11,871 |  |  | $ | 8.27 |  |  | $ | 94,185 |  |  |  | 12,280 |  |  | $ | 7.67 |

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