EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings Per Share

	Three Months Ended
	June 30, 2024				July 2, 2023
	Common Stock		Class B Common Stock		Common Stock		Class B Common Stock
Basic earnings per share:
Numerator:
Allocation of distributed earnings (cash dividends paid)	$	202,527	$	67,994	$	152,389	$	53,801
Allocation of undistributed earnings	(67,107)		(22,520)		150,090		50,703
Total earnings—basic	$	135,420	$	45,474	$	302,479	$	104,504
Denominator (shares in thousands):
Total weighted-average shares—basic	147,893		54,614		149,244		55,447
Earnings Per Share—basic	$	0.92	$	0.83	$	2.03	$	1.88
Diluted earnings per share:
Numerator:
Allocation of total earnings used in basic computation	$	135,420	$	45,474	$	302,479	$	104,504
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	45,474		—		104,504		—
Reallocation of undistributed earnings	—		57		—		(213)
Total earnings—diluted	$	180,894	$	45,531	$	406,983	$	104,291
Denominator (shares in thousands):
Number of shares used in basic computation	147,893		54,614		149,244		55,447
Weighted-average effect of dilutive securities:
Conversion of Class B common stock to Common shares outstanding	54,614		—		55,447		—
Employee stock options	299		—		468		—
Performance and restricted stock units	201		—		374		—
Total weighted-average shares—diluted	203,007		54,614		205,533		55,447
Earnings Per Share—diluted	$	0.89	$	0.83	$	1.98	$	1.88

	Six Months Ended
	June 30, 2024				July 2, 2023
	Common Stock		Class B Common Stock		Common Stock		Class B Common Stock
Basic earnings per share:
Numerator:
Allocation of distributed earnings (cash dividends paid)	$	407,938	$	135,988	$	305,944	$	107,602
Allocation of undistributed earnings	325,740		108,681		432,943		147,679
Total earnings—basic	$	733,678	$	244,669	$	738,887	$	255,281
Denominator (shares in thousands):
Total weighted-average shares—basic	148,753		54,614		148,914		55,864
Earnings Per Share—basic	$	4.93	$	4.48	$	4.96	$	4.57
Diluted earnings per share:
Numerator:
Allocation of total earnings used in basic computation	$	733,678	$	244,669	$	738,887	$	255,281
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	244,669		—		255,281		—
Reallocation of undistributed earnings	—		(314)		—		(669)
Total earnings—diluted	$	978,347	$	244,355	$	994,168	$	254,612
Denominator (shares in thousands):
Number of shares used in basic computation	148,753		54,614		148,914		55,864
Weighted-average effect of dilutive securities:
Conversion of Class B common stock to Common shares outstanding	54,614		—		55,864		—
Employee stock options	308		—		486		—
Performance and restricted stock units	268		—		423		—
Total weighted-average shares—diluted	203,943		54,614		205,687		55,864
Earnings Per Share—diluted	$	4.80	$	4.47	$	4.83	$	4.56