Net Income Per Share

6 Months Ended

Jul. 04, 2026

Earnings Per Share [Abstract]

Net Income Per Share

Note J – Net Income per Share

Basic net income per share is computed by dividing net income attributable to shareholders by the weighted-average number of common shares outstanding for the period. Diluted net income per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock. The dilutive effect of equity awards is calculated using the treasury stock method.

The following table presents the computation of net income per share on a basic and diluted basis:

	Quarter Ended				Six Months Ended
	July 4,		June 28,		July 4,		June 28,
(thousands except per share data)	2026		2025		2026		2025
Net income attributable to shareholders	$	272,711	$	187,749	$	507,817	$	267,469
Weighted-average shares outstanding - basic		51,306		51,856		51,314		52,057
Net effect of dilutive stock-based compensation awards		561		486		473		447
Weighted-average shares outstanding - diluted		51,867		52,342		51,787		52,504
Net income per share:
Basic	$	5.32	$	3.62	$	9.90	$	5.14
Diluted (a)	$	5.26	$	3.59	$	9.81	$	5.09
(a) Equity awards excluded from diluted net income per share as their effect would have been anti-dilutive		85		28		103		57