Net Income per Share

9 Months Ended

Sep. 28, 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				Nine Months Ended
	September 28,		September 30,		September 28,		September 30,
(thousands except per share data)	2024		2023		2024		2023
Net income attributable to shareholders	$	100,567	$	198,659	$	292,866	$	708,968
Weighted-average shares outstanding - basic		53,010		55,597		53,476		57,021
Net effect of various dilutive stock-based compensation awards		465		701		523		694
Weighted-average shares outstanding - diluted		53,475		56,298		53,999		57,715
Net income per share:
Basic	$	1.90	$	3.57	$	5.48	$	12.43
Diluted (a)	$	1.88	$	3.53	$	5.42	$	12.28
(a) Equity awards excluded from diluted net income per share as their effect would have been anti-dilutive		-		-		21		43