EARNINGS PER SHARE - (Tables)

6 Months Ended

Jul. 01, 2023

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				Six months ended
	July 1, 2023		July 2, 2022		July 1, 2023		July 2, 2022
Net income attributable to Summit Inc.	$	83,637	$	190,113	$	52,833	$	155,821
Weighted average shares of Class A stock outstanding	118,848,214		120,078,273		118,706,385		120,417,414
Add: Nonvested restricted stock awards of retirement eligible shares	83,700		143,821		99,400		151,973
Weighted average shares outstanding	118,931,914		120,222,094		118,805,785		120,569,387
Basic earnings per share	$	0.70	$	1.58	$	0.44	$	1.29
Diluted net income attributable to Summit Inc.	$	83,637	$	190,113	$	52,833	$	155,821
Weighted average shares outstanding	118,931,914		120,222,094		118,805,785		120,569,387
Add: stock options	100,895		76,161		99,102		101,094
Add: warrants	13,194		10,413		12,978		12,844
Add: restricted stock units	193,011		257,454		340,958		533,242
Add: performance stock units	154,695		94,599		172,781		157,601
Weighted average dilutive shares outstanding	119,393,709		120,660,721		119,431,604		121,374,168
Diluted earnings per share	$	0.70	$	1.58	$	0.44	$	1.28

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		Six months ended
	July 1, 2023	July 2, 2022	July 1, 2023	July 2, 2022
Antidilutive shares:
LP Units	1,310,004	1,314,006	1,310,630	1,314,006