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Earnings Per Common Share
3 Months Ended
Dec. 25, 2021
Earnings Per Common Share [Abstract]  
Earnings Per Common Share I. EARNINGS PER COMMON SHARE The Company has two classes of common stock: Class A which is publicly traded, and Class B, which has no public market. The Class B Common Stock has restrictions on transfer; however, each share is convertible into one share of Class A Common Stock at any time. Each share of Class A Common Stock has one vote per share and each share of Class B Common Stock has ten votes per share. Each share of Class A Common Stock is entitled to receive cash dividends equal to 110% of any cash dividend paid on Class B Common Stock. 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 declared per share for each class of stock, plus 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.  Three Months Ended Three Months Ended December 25, 2021 December 26, 2020 Class A Class B Class A Class BNumerator: Allocated net income Net income allocated, basic $ 50,899,553 $ 15,289,465 $ 38,813,986 $ 15,010,101Conversion of Class B to Class A shares 15,289,465 — 15,010,101 —Net income allocated, diluted $ 66,189,018 $ 15,289,465 $ 53,824,087 $ 15,010,101 Denominator: Weighted average shares outstanding Weighted average shares outstanding, basic 14,277,211 4,717,165 14,213,562 6,046,214Conversion of Class B to Class A shares 4,717,165 — 6,046,214 —Weighted average shares outstanding, diluted 18,994,376 4,717,165 20,259,776 6,046,214 Earnings per share Basic $ 3.57 $ 3.24 $ 2.73 $ 2.48Diluted $ 3.48 $ 3.24 $ 2.66 $ 2.48