Net Income Per Share

12 Months Ended

Jan. 02, 2022

Earnings Per Share [Abstract]

Net Income Per Share

Net Income Per Share

The calculation of basic and diluted net income per share was as follows:

	Year Ended
	2021		2020		2019
Net income	$	200,392	$	117,832	$	136,940
Common stock:
Weighted average basic shares outstanding	221,375		223,684		229,944
Dilutive effect of stock options and restricted shares	3,030		4,330		5,131
Weighted average diluted shares outstanding	224,405		228,014		235,075
Net income per share:
Basic	$	.91	$	.53	$	.60
Diluted	$	.89	$	.52	$	.58

Basic net income per share for 2021, 2020 and 2019 was computed by dividing net income amounts by the weighted average number of shares of common stock outstanding. Diluted net income per share was computed by dividing net income by the weighted average number of basic shares outstanding plus the potential common share effect of dilutive stock options and restricted shares. We excluded potential common shares of 2,404, 2,064 and 2,518 for 2021, 2020 and 2019, respectively, from our diluted net income per share calculation as they would have had anti-dilutive effects.