EARNINGS PER SHARE

12 Months Ended

Dec. 30, 2023

The calculations of basic and diluted earnings per share ("EPS") are based on net income divided by the basic weighted average number of common shares and diluted weighted average number of common shares outstanding, respectively.

The following table presents the calculations of basic and diluted EPS:


	Year Ended December

(In thousands, except per share amounts)	2023		2022		2021
Net income	$	230,994	$	245,493	$	195,423
Basic weighted average shares outstanding	55,961		55,744		57,394
Dilutive effect of stock-based awards	970		1,218		1,692
Diluted weighted average shares outstanding	56,931		56,962		59,086
Earnings per share:
Basic earnings per share	$	4.13	$	4.40	$	3.40
Diluted earnings per share	$	4.06	$	4.31	$	3.31

For the years ended December 2023, December 2022 and December 2021, an immaterial number of shares were excluded from the dilutive earnings per share calculations because the effect of their inclusion would have been anti-dilutive.

For the years ended December 2023, December 2022 and December 2021, a total of 0.6 million, 0.3 million and 0.2 million shares of PRSUs, respectively, were excluded from the calculations of diluted earnings per share as the units were not considered to be contingent outstanding shares.