EARNINGS PER SHARE

12 Months Ended

Jan. 03, 2026

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
	January 3, 2026		December 28, 2024		December 30, 2023
Net income	$	165,387	$	175,689	$	169,885

Weighted average common shares outstanding — basic	80,558		84,935		86,717
Effect of dilutive securities	1,037		820		686
Weighted average common shares outstanding — diluted	81,595		85,755		87,403

Earnings per share
Basic	$	2.05	$	2.07	$	1.96
Diluted	$	2.03	$	2.05	$	1.94

Outstanding stock-based awards representing 0.7 million, 0.1 million, and 0.2 million shares of common stock were excluded from the calculations of diluted earnings per share in 2025, 2024, and 2023, respectively, because the effect of their inclusion would have been antidilutive to those years.