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Net Income per Share (Tables)
12 Months Ended
Dec. 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:

 

 

 

December 28,

 

 

December 30,

 

 

December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

(in thousands, except per share data)

 

Net Income

 

$

59,695

 

 

$

76,250

 

 

$

67,263

 

Allocation of net income for basic:

 

 

 

 

 

 

 

 

 

Class A Common Stock

 

$

49,070

 

 

$

63,216

 

 

$

55,812

 

Class B Common Stock

 

 

10,485

 

 

 

12,880

 

 

 

11,293

 

Unvested participating shares

 

 

140

 

 

 

154

 

 

 

158

 

 

$

59,695

 

 

$

76,250

 

 

$

67,263

 

Weighted average number of shares for basic:

 

 

 

 

 

 

 

 

 

Class A Common Stock

 

 

9,678

 

 

 

10,150

 

 

 

10,221

 

Class B Common Stock

 

 

2,068

 

 

 

2,068

 

 

 

2,068

 

Unvested participating shares

 

 

28

 

 

 

25

 

 

 

28

 

 

 

11,774

 

 

 

12,243

 

 

 

12,317

 

Net income per share for basic:

 

 

 

 

 

 

 

 

 

Class A Common Stock

 

$

5.07

 

 

$

6.23

 

 

$

5.46

 

Class B Common Stock

 

$

5.07

 

 

$

6.23

 

 

$

5.46

 

Computation of Net Income per Share, Diluted

The following tables set forth the computation of diluted net income per share, assuming the conversion of all Class B Common Stock into Class A Common Stock:

 

 

 

Fiscal year ended December 28, 2024

 

 

 

Earnings to
Common
Shareholders

 

 

Common
Shares

 

 

EPS

 

 

 

(in thousands, except per share data)

 

 

 

 

As reported - basic

 

$

49,070

 

 

 

9,678

 

 

$

5.07

 

Add: effect of dilutive potential common shares

 

 

 

 

 

 

 

 

 

Share-based awards

 

 

 

 

 

20

 

 

 

 

Class B Common Stock

 

 

10,485

 

 

 

2,068

 

 

 

 

Net effect of unvested participating shares

 

 

 

 

 

 

 

 

 

Net income per common share - diluted

 

$

59,555

 

 

$

11,766

 

 

$

5.06

 

 

 

 

Fiscal year ended December 30, 2023

 

 

 

Earnings to
Common
Shareholders

 

 

Common
Shares

 

 

EPS

 

 

 

(in thousands, except per share data)

 

 

 

 

As reported - basic

 

$

63,216

 

 

 

10,150

 

 

$

6.23

 

Add: effect of dilutive potential common shares

 

 

 

 

 

 

 

 

 

Share-based awards

 

 

 

 

 

40

 

 

 

 

Class B Common Stock

 

 

12,880

 

 

 

2,068

 

 

 

 

Net effect of unvested participating shares

 

 

 

 

 

 

 

 

 

Net income per common share - diluted

 

$

76,096

 

 

 

12,258

 

 

$

6.21

 

 

 

 

Fiscal year ended December 31, 2022

 

 

 

Earnings to
Common
Shareholders

 

 

Common
Shares

 

 

EPS

 

 

 

(in thousands, except per share data)

 

 

 

 

As reported - basic

 

$

55,812

 

 

 

10,221

 

 

$

5.46

 

Add: effect of dilutive potential common shares

 

 

 

 

 

 

 

 

 

Share-based awards

 

 

 

 

 

56

 

 

 

 

Class B Common Stock

 

 

11,293

 

 

 

2,068

 

 

 

 

Net effect of unvested participating shares

 

 

1

 

 

 

 

 

 

 

Net income per common share - diluted

 

$

67,106

 

 

 

12,345

 

 

$

5.44