Earnings Per Share (Tables)

9 Months Ended

Sep. 28, 2024

Earnings Per Share [Abstract]

Computations of Basic and Diluted Net Earnings Per Share

The computations of basic and diluted net earnings per share for the third quarter and first nine months of 2024 and 2023 are as follows (in thousands, except per share amounts):
 

	Three Months (13 Weeks) Ended						Nine Months (39 Weeks) Ended
	September 28, 2024			September 30, 2023			September 28, 2024			September 30, 2023
Basic net earnings per share:
Basic net earnings	$	249,910		$	1,141,506		$	1,739,968		$	3,739,402
Earnings allocated to participating securities		(1,117	)		(4,501	)		(7,556	)		(13,788	)
Net earnings available to common    stockholders	$	248,793		$	1,137,005		$	1,732,412		$	3,725,614
Basic average shares outstanding		236,462			248,504			239,701			250,752
Basic net earnings per share	$	1.05		$	4.58		$	7.23		$	14.86
Diluted net earnings per share:
Diluted net earnings	$	249,910		$	1,141,506		$	1,739,968		$	3,739,402
Earnings allocated to participating securities		(1,117	)		(4,488	)		(7,546	)		(13,747	)
Net earnings available to common    stockholders	$	248,793		$	1,137,018		$	1,732,422		$	3,725,655
Diluted average shares outstanding:
Basic average shares outstanding		236,462			248,504			239,701			250,752
Dilutive effect of stock options and other		306			412			99			427
		236,768			248,916			239,800			251,179
Diluted net earnings per share	$	1.05		$	4.57		$	7.22		$	14.83

Anti-dilutive Stock Options

The following stock options were excluded from the computation of diluted net earnings per share for the third quarter and first nine months of 2024 and 2023 because their effect would have been anti-dilutive (shares in thousands):

	Three Months (13 Weeks) Ended				Nine Months (39 Weeks) Ended
	September 28, 2024		September 30, 2023		September 28, 2024		September 30, 2023
Anti-dilutive stock options:
Weighted-average shares		70		-		23		-
Weighted-average exercise price	$	168.85	$	-	$	168.85	$	-