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Income Per Share
 6 Months Ended
Jul. 01, 2023
Earnings Per Share [Abstract]  
Income Per Share Income Per ShareWe calculate basic income per share by dividing net income by the weighted average number of common shares outstanding. We calculate diluted income per share using the treasury stock method, by dividing net income by the weighted average number of common shares outstanding plus the dilutive effect of outstanding share-based awards, including restricted stock units.
The reconciliation of basic net income and diluted net income per common share for the three and six month periods ended July 1, 2023 and July 2, 2022 were as follows:
Three Months EndedSix Months Ended
July 1, 2023July 2, 2022July 1, 2023July 2, 2022
(In thousands, except per share data)(In thousands, except per share data)
Net income$24,466 $71,272 $42,278 $204,681 
Weighted-average shares outstanding - basic9,040 9,324 9,034 9,522 
Dilutive effect of share-based awards17 196 16 188 
Weighted-average shares outstanding - diluted9,057 9,520 9,050 9,710 
Basic income per share$2.70 $7.64 $4.67 $21.49 
Diluted income per share$2.70 $7.48 $4.67 $21.07 
Approximately 49,000 and 21,000 weighted-average share-based awards were excluded from the computation of earnings per share assuming dilution during the three months ended July 1, 2023 and July 2, 2022, respectively, as the awards would have been anti-dilutive for the periods presented.
Approximately 40,000 and 13,000 weighted-average share-based awards were excluded from the computation of earnings per share assuming dilution during the six months ended July 1, 2023 and July 2, 2022, respectively, as the awards would have been anti-dilutive for the periods presented.