EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 29, 2024

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings Per Share

	Three Months Ended
	September 29, 2024				October 1, 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)	$	202,390	$	67,993	$	178,573	$	59,146
Allocation of undistributed earnings	131,726		44,192		211,085		69,773
Total earnings—basic	$	334,116	$	112,185	$	389,658	$	128,919
Denominator (shares in thousands):
Total weighted-average shares—basic	147,938		54,614		150,116		54,614
Earnings Per Share—basic	$	2.26	$	2.05	$	2.60	$	2.36
Diluted earnings per share:
Numerator:
Allocation of total earnings used in basic computation	$	334,116	$	112,185	$	389,658	$	128,919
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	112,185		—		128,919		—
Reallocation of undistributed earnings	—		(107)		—		(264)
Total earnings—diluted	$	446,301	$	112,078	$	518,577	$	128,655
Denominator (shares in thousands):
Number of shares used in basic computation	147,938		54,614		150,116		54,614
Weighted-average effect of dilutive securities:
Conversion of Class B common stock to Common shares outstanding	54,614		—		54,614		—
Employee stock options	283		—		400		—
Performance and restricted stock units	195		—		358		—
Total weighted-average shares—diluted	203,030		54,614		205,488		54,614
Earnings Per Share—diluted	$	2.20	$	2.05	$	2.52	$	2.36

	Nine Months Ended
	September 29, 2024				October 1, 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)	$	610,328	$	203,981	$	484,517	$	166,749
Allocation of undistributed earnings	457,433		152,906		644,062		217,417
Total earnings—basic	$	1,067,761	$	356,887	$	1,128,579	$	384,166
Denominator (shares in thousands):
Total weighted-average shares—basic	148,474		54,614		149,307		55,447
Earnings Per Share—basic	$	7.19	$	6.53	$	7.56	$	6.93
Diluted earnings per share:
Numerator:
Allocation of total earnings used in basic computation	$	1,067,761	$	356,887	$	1,128,579	$	384,166
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock	356,887		—		384,166		—
Reallocation of undistributed earnings	—		(418)		—		(931)
Total earnings—diluted	$	1,424,648	$	356,469	$	1,512,745	$	383,235
Denominator (shares in thousands):
Number of shares used in basic computation	148,474		54,614		149,307		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	300		—		457		—
Performance and restricted stock units	243		—		402		—
Total weighted-average shares—diluted	203,631		54,614		205,613		55,447
Earnings Per Share—diluted	$	7.00	$	6.53	$	7.36	$	6.91