Earnings Per Share

9 Months Ended

Oct. 01, 2022

Earnings Per Share [Abstract]

Earnings Per Share

10 Earnings Per Share

Basic and diluted EPS calculations are detailed as follows (in thousands, except per share data):

	Three Months Ended October 1, 2022
	Net Income (Numerator)		Weighted- Average Shares (Denominator)		Per Share Amount
Net income per basic common share	$	155,998		59,801	$	2.61
Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities		—		280		(0.01	)
Net income per diluted common share	$	155,998		60,081	$	2.60

	Three Months Ended October 2, 2021
	Net Income (Numerator)		Weighted- Average Shares (Denominator)		Per Share Amount
Net income per basic common share	$	161,185		61,359	$	2.63
Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities		—		529		(0.03	)
Net income per diluted common share	$	161,185		61,888	$	2.60

	Nine Months Ended October 1, 2022
	Net Income (Numerator)		Weighted- Average Shares (Denominator)		Per Share Amount
Net income per basic common share	$	480,693		60,200	$	7.98
Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities		—		321		(0.04	)
Net income per diluted common share	$	480,693		60,521	$	7.94

	Nine Months Ended October 2, 2021
	Net Income (Numerator)		Weighted- Average Shares (Denominator)		Per Share Amount
Net income per basic common share	$	476,604		61,771	$	7.72
Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities		—		473		(0.06	)
Net income per diluted common share	$	476,604		62,244	$	7.66

For the three and nine months ended October 1, 2022 and October 2, 2021, the Company had fewer than one million stock options that were antidilutive due to having higher exercise prices than the Company’s average stock price during the applicable period. These securities were not included in the computation of diluted EPS. The effect of dilutive securities was calculated using the treasury stock method.