XML 27 R15.htm IDEA: XBRL DOCUMENT v3.21.2
Earnings Per Common Share
 12 Months Ended
Sep. 25, 2021
Earnings Per Common Share [Abstract]  
Earnings Per Common Share 9. Earnings Per Common Share

The Company calculates earnings per share using the two-class method in accordance with FASB ASC Topic 260.

The two-class method of computing basic earnings per share for each period reflects the cash dividends paid per share for each class of stock, plus the amount of allocated undistributed earnings per share computed using the participation percentage which reflects the dividend rights of each class of stock. Diluted earnings per share is calculated assuming the conversion of all shares of Class B Common Stock to shares of Class A Common Stock on a share-for-share basis. The tables below reconcile the numerators and denominators of basic and diluted earnings per share for current and prior periods.

Year Ended

  

September 25, 2021

Class A

Class B

Numerator: Allocated net income

Net income allocated, basic

  

$

185,964,771

  

$

63,766,687

Conversion of Class B to Class A shares

  

63,766,687

  

—

Net income allocated, diluted

  

$

249,731,458

  

$

63,766,687

Denominator: Weighted average shares outstanding

  

  

Weighted average shares outstanding, basic

  

14,242,276

  

5,370,894

Conversion of Class B to Class A shares

  

5,370,894

  

—

Weighted average shares outstanding, diluted

  

19,613,170

  

5,370,894

Earnings per share

Basic

  

$

13.06

  

$

11.87

Diluted

  

$

12.73

  

$

11.87

Year Ended

Year Ended

September 26, 2020

September 28, 2019

  

Class A

Class B

  

Class A

  

Class B

Numerator: Allocated net income

Net income allocated, basic

  

$

128,634,913

  

$

49,966,520

  

$

58,635,758

  

$

22,944,244

Conversion of Class B to Class A shares

  

49,966,520

  

—

  

22,944,244

  

—

Net income allocated, diluted

  

$

178,601,433

  

$

49,966,520

  

$

81,580,002

  

$

22,944,244

Denominator: Weighted average
‎  shares outstanding

  

  

  

  

Weighted average shares outstanding,

  basic

  

14,194,819

  

6,064,957

  

14,163,776

  

6,096,000

Conversion of Class B to Class A shares

  

6,064,957

  

—

  

6,096,000

  

—

Weighted average shares outstanding,

  diluted

  

20,259,776

  

6,064,957

  

20,259,776

  

6,096,000

Earnings per share

Basic

  

$

9.06

  

$

8.24

  

$

4.14

  

$

3.76

Diluted

  

$

8.82

  

$

8.24

  

$

4.03

  

$

3.76