EARNINGS PER SHARE - (Tables)

9 Months Ended

Oct. 02, 2021

Earnings Per Share [Abstract]

Schedule of Basic Earnings Per Share

The following table shows the calculation of basic and diluted earnings per share:

	Three months ended				Nine months ended
	October 2, 2021		September 26, 2020		October 2, 2021		September 26, 2020
Net income attributable to Summit Inc.	$	74,204	$	90,730	$	108,346	$	102,815
Weighted average shares of Class A stock outstanding	118,272,955		114,116,564		117,040,207		113,943,292
Add: Nonvested restricted stock awards of retirement eligible shares	200,575		320,343		218,224		145,155
Weighted average basic shares outstanding	118,473,530		114,436,907		117,258,431		114,088,447
Basic earnings per share	$	0.63	$	0.79	$	0.92	$	0.90
Diluted net income attributable to Summit Inc.	$	74,204	$	90,730	$	108,346	$	102,815
Weighted average shares of Class A stock outstanding	118,272,955		114,116,564		117,040,207		113,943,292
Add: stock options	125,164		—		310,990		—
Add: warrants	14,405		—		17,573		—
Add: restricted stock units	680,980		263,886		812,702		450,353
Add: performance stock units	198,142		91,721		179,143		63,631
Weighted average dilutive shares outstanding	119,291,646		114,472,171		118,360,615		114,457,276
Diluted earnings per share	$	0.62	$	0.79	$	0.92	$	0.90

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Excluded from the above calculations were the shares noted below as they were antidilutive:

	Three months ended		Nine months ended
	October 2, 2021	September 26, 2020	October 2, 2021	September 26, 2020
Antidilutive shares:
LP Units	1,594,272	3,053,115	2,031,090	3,086,819
Time-vesting stock options	—	2,095,929	—	2,095,929
Warrants	—	100,037	—	100,037
Time-vesting restricted stock units	—	—	—	—
Market-based restricted stock units	—	—	—	—