Earnings Per Share

6 Months Ended

Jun. 29, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

We report a dual presentation of Basic Earnings per Share (“Basic EPS”) and Diluted Earnings per Share (“Diluted EPS”). Basic EPS excludes dilution and is computed by dividing net income by the weighted average number of common shares outstanding during the reported period. Diluted EPS uses the treasury stock method to compute the potential dilution that could occur if stock-based awards and other commitments to issue common stock were exercised.

The computation of Basic EPS and Diluted EPS is as follows:

	Thirteen Weeks Ended				Twenty-six Weeks Ended
	June 29, 2013		June 30, 2012		June 29, 2013		June 30, 2012
Net income	$	69,686	$	61,274	$	119,445	$	151,247
Weighted average shares	152,511		151,428		151,799		151,110
Basic EPS	$	0.46	$	0.40	$	0.79	$	1.00
Weighted average shares, including the dilutive effect of stock-based awards (2,353 and 2,592 for the thirteen weeks ended June 29, 2013 and June 30, 2012, respectively, and 2,940 and 3,325 for the twenty-six weeks ended June 29, 2013 and June 30, 2012, respectively)	154,864		154,020		154,739		154,435
Diluted EPS	$	0.45	$	0.40	$	0.77	$	0.98

There were approximately 3,251 and 2,677 stock-based awards for the thirteen weeks ended June 29, 2013 and June 30, 2012, respectively, and 3,184 and 2,161 stock-based awards for the twenty-six weeks ended June 29, 2013 and June 30, 2012, respectively, that were not included in the computation of Diluted EPS because the exercise price was greater than the average market price of the Class A Common Stock during the respective periods, thereby having an antidilutive effect.