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EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE

We compute earnings per share of Class A and Class B common stock using the two-class method. Basic earnings per share is computed using the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares and, if dilutive, common stock equivalents outstanding during the period. Potential common stock equivalents consist of the incremental common shares issuable upon the exercise of common stock options, or vesting of restricted stock and performance share units. The dilutive effect of outstanding stock options, restricted stock and performance share units is reflected in diluted earnings per share by application of the treasury-stock method. In addition, the computation of the diluted earnings per share of Class A common stock assumes the conversion of Class B common stock, while the diluted earnings per share of Class B common stock does not assume the conversion of those shares.

The rights, including the liquidation and dividend rights, of the holders of our Class A and Class B common stock are identical, except with respect to voting. The earnings for the periods presented are allocated based on the contractual participation rights of the Class A and Class B common shares. As the liquidation and dividend rights are identical, the earnings are allocated on a proportionate basis. Further, as we assume the conversion of Class B common stock in the computation of the diluted earnings per share of Class A common stock, the earnings are equal to net income attributable to controlling interest for that computation.

The following table sets forth the computation of basic and diluted earnings per share of Class A and Class B common stock (in millions, except share and per share data):
 
 
Year Ended
December 31, 2015
 
Year Ended
January 1, 2015
 
Year Ended
December 26, 2013
 
 
Class A
 
Class B
 
Class A
 
Class B
 
Class A
 
Class B
Basic earnings per share:
 
 
 
 
 
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
 
 
 
 
 
Allocation of earnings
 
$
130.0

 
$
23.4

 
$
89.5

 
$
16.1

 
$
133.6

 
$
24.1

Denominator:
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding (in thousands)
 
131,971

 
23,709

 
131,578

 
23,709

 
131,117

 
23,709

Basic earnings per share
 
$
0.99

 
$
0.99

 
$
0.68

 
$
0.68

 
$
1.02

 
$
1.02

Diluted earnings per share:
 
 
 
 
 
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
 
 
 
 
 
Allocation of earnings for basic computation
 
$
130.0

 
$
23.4

 
$
89.5

 
$
16.1

 
$
133.6

 
$
24.1

Reallocation of earnings as a result of conversion of Class B to Class A shares
 
23.4

 
—

 
16.1

 
—

 
24.1

 
—

Reallocation of earnings to Class B shares for effect of other dilutive securities
 
—

 
(0.1
)
 
—

 
—

 
—

 
(0.1
)
Allocation of earnings
 
$
153.4

 
$
23.3

 
$
105.6

 
$
16.1

 
$
157.7

 
$
24.0

Denominator:
 
 
 
 
 
 
 
 
 
 
 
 
Number of shares used in basic computation (in thousands)
 
131,971

 
23,709

 
131,578

 
23,709

 
131,117

 
23,709

Weighted average effect of dilutive securities (in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
Add:
 
 
 
 
 
 
 
 
 
 
 
 
Conversion of Class B to Class A common shares outstanding
 
23,709

 
—

 
23,709

 
—

 
23,709

 
—

Stock options
 
—

 
—

 
—

 
—

 
2

 
—

Restricted stock and performance shares
 
831

 
—

 
1,023

 
—

 
895

 
—

Number of shares used in per share computations (in thousands)
 
156,511

 
23,709

 
156,310

 
23,709

 
155,723

 
23,709

Diluted earnings per share
 
$
0.98

 
$
0.98

 
$
0.68

 
$
0.68

 
$
1.01

 
$
1.01