Net Income Per Share

9 Months Ended

Sep. 29, 2024

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
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
Net income	$	50,224	$	58,049	$	146,860	$	157,502
Common stock:
Weighted average basic shares outstanding	203,264		208,834		204,518		210,668
Dilutive effect of stock options and restricted shares	990		1,768		1,285		2,185
Weighted average diluted shares outstanding	204,254		210,602		205,803		212,853
Net income per share:
Basic	$	.25	$	.28	$	.72	$	.75
Diluted	$	.25	$	.28	$	.71	$	.74

Basic net income per share for the three and nine months ended September 29, 2024 and October 1, 2023 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 8,605 and 7,667 for the three and nine months ended September 29, 2024, respectively, and 5,204 and 4,719 for the three and nine months ended October 1, 2023, respectively, from our diluted net income per share calculation as they would have had anti-dilutive effects.