EARNINGS PER SHARE (Tables)

12 Months Ended

Jan. 01, 2022

The following is a reconciliation of basic common shares outstanding to diluted common and common equivalent shares outstanding:


	For the fiscal year ended
		January 1, 2022		January 2, 2021		December 28, 2019
		(52 weeks)		(53 weeks)		(52 weeks)
Weighted-average number of common and common equivalent shares outstanding:
Basic number of common shares outstanding		42,853,009		43,242,967		44,402,438
Dilutive effect of equity awards		149,619		164,754		305,514
Diluted number of common and common equivalent shares outstanding		43,002,628		43,407,721		44,707,952
Earnings per share:
(dollars in thousands, except per share data)
Basic net income per common share:
Net income		$	339,748	$	109,717	$	263,802
Income allocated to participating securities		(4,113)		(1,118)		(2,430)
Net income available to common shareholders		$	335,635	$	108,599	$	261,372
Basic net income per common share		$	7.83	$	2.51	$	5.89

Diluted net income per common share:
Net income		$	339,748	$	109,717	$	263,802
Income allocated to participating securities		(4,102)		(1,115)		(2,419)
Net income available to common shareholders		$	335,646	$	108,602	$	261,383
Diluted net income per common share		$	7.81	$	2.50	$	5.85

Anti-dilutive shares excluded from dilutive earnings per share calculations (1)		176,475		564,131		351,777

(1)The volume of antidilutive shares is, in part, due to the related unamortized compensation costs.