Net Income per Share

6 Months Ended

Jun. 29, 2024

Net Income per Share

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
	June 29,		July 1,		June 29,		July 1,
(thousands except per share data)	2024		2023		2024		2023
Net income attributable to shareholders	$	108,698	$	236,559	$	192,299	$	510,309
Weighted-average shares outstanding - basic		53,640		56,720		53,944		57,726
Net effect of various dilutive stock-based compensation awards		541		635		552		683
Weighted-average shares outstanding - diluted		54,181		57,355		54,496		58,409
Net income per share:
Basic	$	2.03	$	4.17	$	3.56	$	8.84
Diluted (a)	$	2.01	$	4.12	$	3.53	$	8.74
(a) Equity awards excluded from diluted net income per share as their effect would have been anti-dilutive		-		-		-		2