EARNINGS PER SHARE (Tables)

6 Months Ended

Jul. 03, 2022

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings Per Share

	Three Months Ended
	July 3, 2022				July 4, 2021
	Common Stock		Class B Common Stock		Common Stock		Class B Common Stock
Basic earnings per share:
Numerator:
Allocation of distributed earnings (cash dividends paid)	$	131,077	$	48,823	$	117,257	$	44,308
Allocation of undistributed earnings	99,227		36,429		101,414		38,251
Total earnings—basic	$	230,304	$	85,252	$	218,671	$	82,559
Denominator (shares in thousands):
Total weighted-average shares—basic	146,362		59,114		146,111		60,614
Earnings Per Share—basic	$	1.57	$	1.44	$	1.50	$	1.36
Diluted earnings per share:
Numerator:
Allocation of total earnings used in basic computation	$	230,304	$	85,252	$	218,671	$	82,559
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	85,252		—		82,559		—
Reallocation of undistributed earnings	—		(189)		—		(179)
Total earnings—diluted	$	315,556	$	85,063	$	301,230	$	82,380
Denominator (shares in thousands):
Number of shares used in basic computation	146,362		59,114		146,111		60,614
Weighted-average effect of dilutive securities:
Conversion of Class B common stock to Common shares outstanding	59,114		—		60,614		—
Employee stock options	585		—		622		—
Performance and restricted stock units	388		—		324		—
Total weighted-average shares—diluted	206,449		59,114		207,671		60,614
Earnings Per Share—diluted	$	1.53	$	1.44	$	1.45	$	1.36

	Six Months Ended
	July 3, 2022				July 4, 2021
	Common Stock		Class B Common Stock		Common Stock		Class B Common Stock
Basic earnings per share:
Numerator:
Allocation of distributed earnings (cash dividends paid)	$	263,337	$	97,647	$	235,687	$	88,617
Allocation of undistributed earnings	356,240		131,810		270,866		101,859
Total earnings—basic	$	619,577	$	229,457	$	506,553	$	190,476
Denominator (shares in thousands):
Total weighted-average shares—basic	146,248		59,530		146,550		60,614
Earnings Per Share—basic	$	4.24	$	3.85	$	3.46	$	3.14
Diluted earnings per share:
Numerator:
Allocation of total earnings used in basic computation	$	619,577	$	229,457	$	506,553	$	190,476
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	229,457		—		190,476		—
Reallocation of undistributed earnings	—		(722)		—		(484)
Total earnings—diluted	$	849,034	$	228,735	$	697,029	$	189,992
Denominator (shares in thousands):
Number of shares used in basic computation	146,248		59,530		146,550		60,614
Weighted-average effect of dilutive securities:
Conversion of Class B common stock to Common shares outstanding	59,530		—		60,614		—
Employee stock options	592		—		606		—
Performance and restricted stock units	491		—		356		—
Total weighted-average shares—diluted	206,861		59,530		208,126		60,614
Earnings Per Share—diluted	$	4.10	$	3.84	$	3.35	$	3.13