Net Income Per Share

9 Months Ended

Dec. 27, 2025

Earnings Per Share [Abstract]

Net Income Per Share

Net Income Per Share

Basic net income per share is based on the weighted effect of common shares issued and outstanding and is calculated by dividing net income by the basic weighted average shares outstanding during the period.  Diluted net income per share is calculated by dividing net income by the weighted average number of common shares used in the basic net income per share calculation, plus the equivalent number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares outstanding.  These potentially dilutive items consist primarily of restricted stock units and outstanding stock options.

The following table details the calculation of basic and diluted earnings per share for the three and nine months ended December 27, 2025 and December 28, 2024 (in thousands, except per share amounts):

	Three Months Ended				Nine Months Ended
	December 27,		December 28,		December 27,		December 28,
	2025		2024		2025		2024
Numerator:
Net income	$	140,310	$	116,005	$	332,603	$	260,240
Denominator:
Weighted average shares outstanding	51,037		53,081		51,313		53,263
Effect of dilutive securities	1,661		1,995		1,728		2,266
Weighted average diluted shares	52,698		55,076		53,041		55,529
Basic earnings per share	$	2.75	$	2.19	$	6.48	$	4.89
Diluted earnings per share	$	2.66	$	2.11	$	6.27	$	4.69

The weighted outstanding shares excluded from our diluted calculation for the three and nine months ended December 27, 2025 were 44 thousand and 167 thousand, respectively, as the shares were anti-dilutive. The weighted outstanding shares excluded from our diluted calculation for the three and nine months ended December 28, 2024 were 228 thousand and 224 thousand, respectively, as the shares were anti-dilutive.