Net Income Per Share

12 Months Ended

Jan. 01, 2023

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


	Year Ended
	2022		2021		2020
Net income	$	177,370	$	200,392	$	117,832

Common stock:
Weighted average basic shares outstanding	213,766		221,375		223,684
Dilutive effect of stock options and restricted shares	2,073		3,030		4,330
Weighted average diluted shares outstanding	215,839		224,405		228,014

Net income per share:
Basic	$	.83	$	.91	$	.53
Diluted	$	.82	$	.89	$	.52

Basic net income per share for 2022, 2021 and 2020 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 4,443, 2,404 and 2,064 for 2022, 2021 and 2020, respectively, from our diluted net income per share calculation as they would have had anti-dilutive effects.