Net Income Per Share

9 Months Ended

Oct. 01, 2023

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:

	Three Months Ended				Nine Months Ended
	October 1, 2023		October 2, 2022		October 1, 2023		October 2, 2022
Net income	$	58,049	$	50,542	$	157,502	$	136,095
Common stock:
Weighted average basic shares outstanding	208,834		212,805		210,668		214,032
Dilutive effect of stock options and restricted shares	1,768		1,796		2,185		1,971
Weighted average diluted shares outstanding	210,602		214,601		212,853		216,003
Net income per share:
Basic	$	.28	$	.24	$	.75	$	.64
Diluted	$	.28	$	.24	$	.74	$	.63

Basic net income per share for the three and nine months ended October 1, 2023 and October 2, 2022 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 5,204 and 4,719 for the three and nine months ended October 1, 2023, respectively, and 4,298 and 4,377 for the three and nine months ended October 2, 2022, respectively, from our diluted net income per share calculation as they would have had anti-dilutive effects.