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EARNINGS PER SHARE
 12 Months Ended
Dec. 30, 2023
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
The following is a reconciliation of basic common shares outstanding to diluted common and common equivalent shares outstanding:
For the fiscal year ended
December 30, 2023December 31, 2022January 1, 2022
Weighted-average number of common and common equivalent shares outstanding:
Basic number of common shares outstanding36,589,922 38,822,737 42,853,009 
Dilutive effect of equity awards3,344 27,908 149,619 
Diluted number of common and common equivalent shares outstanding36,593,266 38,850,645 43,002,628 
Earnings per share:
(dollars in thousands, except per share data)
Basic net income per common share:
Net income $232,500 $250,038 $339,748 
Income allocated to participating securities(4,285)(3,714)(4,113)
Net income available to common shareholders$228,215 $246,324 $335,635 
Basic net income per common share$6.24 $6.34 $7.83 
Diluted net income per common share:
Net income $232,500 $250,038 $339,748 
Income allocated to participating securities(4,285)(3,712)(4,102)
Net income available to common shareholders$228,215 $246,326 $335,646 
Diluted net income per common share$6.24 $6.34 $7.81 
Anti-dilutive shares excluded from dilutive earnings per share calculations (*)
477,373 526,618 176,475 
(*)The volume of antidilutive shares is, in part, due to the related unamortized compensation costs.
The Company grants shares of its common stock in the form of restricted stock awards to certain key employees under the Company’s Amended and Restated Equity Incentive Plan (see Note 12, Stock-based Compensation, to the consolidated financial statements). Prior to vesting of the restricted stock awards, the grant recipients are entitled to receive non-forfeitable cash dividends if the Company declares and pays dividends on the Company’s common stock. Accordingly, unvested shares of the Company’s restricted stock awards are deemed to be participating securities for purposes of computing diluted earnings per share (EPS), and therefore the Company’s diluted EPS represents the lower of the amounts calculated under the treasury stock method or the two-class method of calculating diluted EPS.