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Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2025
Stockholders' Equity Note [Abstract]  
Schedule of Dividends Paid Previously or Declared
The following table presents the cash dividends either paid previously or declared by our board of directors for future payment on a per share basis:
20252024
First quarter$0.215 $0.195 
Second quarter0.220 0.195 
Third quarter0.220 0.195 
Fourth quarter0.195 
Total$0.655 $0.780 
Stock Options Granted
The following tables summarize the details of options granted under our stock option plans that were outstanding as of June 30, 2025, and the assumptions used to value those grants. All such grants were effective at the close of business on the grant date.
 Options
Granted
Option Exercise
Price
Closing Stock Price on Grant DateJune 30, 2025
Date of GrantOptions
Outstanding
Options
Exercisable
January 2, 20251,366,636 $36.00 $35.555 1,291,450 88,028 
January 2, 20241,629,824 $32.00 $31.775 1,407,662 308,220 
January 3, 20232,143,886 $24.00 $23.700 1,590,490 567,086 
January 3, 20221,426,876 $31.00 $30.990 957,042 505,472 
January 4, 20211,483,020 $24.00 $23.825 850,836 555,640 
January 2, 20201,804,526 $19.00 $18.615 852,527 688,189 
January 2, 20192,633,848 $13.00 $12.853 884,928 735,872 
January 2, 20182,175,872 $13.75 $13.635 432,708 366,424 
January 3, 20173,059,156 $11.75 $11.738 217,192 217,192 
Total17,723,644 8,484,835 4,032,123 
Fair Value Assumptions for Options Granted
Date of GrantRisk-free
Interest Rate
Expected Life
of Option in
Years
Expected
Dividend
Yield
Expected
Stock
Volatility
Estimated Fair
Value of Stock
Option
January 2, 20254.3 %5.002.2 %27.36 %$8.86 
January 2, 20243.8 %5.002.2 %28.44 %$7.94 
January 3, 20234.0 %5.002.6 %29.58 %$5.81 
January 3, 20221.3 %5.001.7 %28.52 %$6.84 
January 4, 20210.4 %5.002.0 %29.17 %$4.79 
January 2, 20201.7 %5.002.4 %25.70 %$3.41 
January 2, 20192.5 %5.002.9 %23.96 %$2.20 
January 2, 20182.2 %5.002.3 %23.45 %$2.51 
January 3, 20171.9 %5.002.6 %24.49 %$2.10 
Reconciliation of Denominators Used in Computation of Basic and Diluted Net Income Per Share
The following tables present a reconciliation of the denominators used in the computation of basic and diluted net income per share and a summary of the options to purchase shares of common stock which were excluded from the diluted net income per share calculation because they were anti-dilutive:
 Six-month PeriodThree-month Period
Reconciliation2025202420252024
Basic weighted average shares outstanding1,147,216,127 1,144,915,794 1,147,492,218 1,145,152,600 
Weighted shares assumed upon exercise of stock options2,610,956 3,291,098 2,608,433 3,074,616 
Diluted weighted average shares outstanding1,149,827,083 1,148,206,892 1,150,100,651 1,148,227,216 
Anti-Dilutive Options Excluded
 Six-month PeriodThree-month Period
Summary of Anti-dilutive Options Excluded2025202420252024
Options to purchase shares of common stock1,293,470 2,525,894 1,203,422 2,523,740 
Weighted average exercise prices of options$35.70 $31.59 $36.00 31.59