EARNINGS PER SHARE

12 Months Ended

Dec. 28, 2024

Basic income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted income per share includes the effect of all potentially dilutive securities, which include dilutive stock options and awards.

The following table sets forth the calculation of earnings per share and weighted-average common shares outstanding at the dates indicated (in thousands, except per share data):


	Fiscal Year Ended
	December 28, 2024		December 30, 2023		December 31, 2022
Net income	$	175,689	$	169,885	$	89,693

Weighted average common shares outstanding — basic	84,935		86,717		86,521
Effect of dilutive securities	820		686		674
Weighted average common shares outstanding — diluted	85,755		87,403		87,195

Earnings per share
Basic	$	2.07	$	1.96	$	1.04
Diluted	$	2.05	$	1.94	$	1.03

Outstanding stock-based awards representing 0.1 million, 0.2 million, and 0.5 million shares of common stock were excluded from the calculations of diluted earnings per share in 2024, 2023, and 2022, respectively, because the effect of their inclusion would have been antidilutive to those years.