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Net Income per Share (Tables)
3 Months Ended
Mar. 29, 2025
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

 

 

 

March 29,
2025

 

 

March 30,
2024

 

 

 

(in thousands, except per share data)

 

Net income

 

$

24,412

 

 

$

12,597

 

Allocation of net income for basic:

 

 

 

 

 

 

Class A Common Stock

 

$

19,873

 

 

$

10,409

 

Class B Common Stock

 

 

4,477

 

 

 

2,162

 

Unvested participating shares

 

 

62

 

 

 

26

 

 

$

24,412

 

 

$

12,597

 

Weighted average number of shares for basic:

 

 

 

 

 

 

Class A Common Stock

 

 

9,180

 

 

 

9,960

 

Class B Common Stock

 

 

2,068

 

 

 

2,068

 

Unvested participating shares

 

 

29

 

 

 

26

 

 

 

11,277

 

 

 

12,054

 

Net income per share for basic:

 

 

 

 

 

 

Class A Common Stock

 

$

2.16

 

 

$

1.05

 

Class B Common Stock

 

$

2.16

 

 

$

1.05

 

 

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 weeks ended March 29, 2025 and for the thirteen weeks ended March 30, 2024:

 

 

 

Thirteen weeks ended

 

 

 

March 29, 2025

 

 

March 30, 2024

 

 

 

Earnings to
Common
Shareholders

 

 

Common
Shares

 

 

EPS

 

 

Earnings to
Common
Shareholders

 

 

Common
Shares

 

 

EPS

 

 

 

(in thousands, except per share data)

 

As reported - basic

 

$

19,873

 

 

 

9,180

 

 

$

2.16

 

 

$

10,409

 

 

 

9,960

 

 

$

1.05

 

Add: effect of dilutive common
   shares

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Share-based awards

 

 

 

 

 

11

 

 

 

 

 

 

 

 

 

27

 

 

 

 

Class B Common Stock

 

 

4,477

 

 

 

2,068

 

 

 

 

 

 

2,162

 

 

 

2,068

 

 

 

 

Net effect of unvested participating
   shares

 

 

 

 

 

 

 

 

 

 

 

1

 

 

 

 

 

 

 

Net income per common share -
   diluted

 

$

24,350

 

 

 

11,259

 

 

$

2.16

 

 

$

12,572

 

 

 

12,055

 

 

$

1.04