Earnings Per Share

12 Months Ended

Dec. 31, 2023

Basic earnings per share was calculated by dividing our net income by the weighted average number of common shares outstanding during the period, excluding unvested RSAs which are considered to be contingently issuable. To calculate diluted earnings per share, common share equivalents are added to the weighted average number of common shares outstanding. Common share equivalents are calculated using the treasury stock method and are computed based on outstanding stock-based awards. Stock-based awards of approximately 297,500 shares, 63,500 shares and 14,250 shares were excluded from the calculation of diluted

earnings per share for fiscal 2023, fiscal 2022 and fiscal 2021, respectively, as their effect would have been anti-dilutive.

The following table sets forth the computation of basic earnings per share and diluted earnings per share:


	For the Year Ended
(in thousands, except per share data)	December 31, 2023		December 31, 2022		December 25, 2021
Numerator:
Net income	$	129,259	$	121,549	$	131,532
Denominator:
Weighted average basic shares outstanding	31,455		31,434		31,810
Effect of compensation awards	78		109		151
Weighted average diluted shares outstanding	31,533		31,543		31,961
Earnings Per Share:
Basic	$	4.11	$	3.87	$	4.13
Diluted	$	4.10	$	3.85	$	4.12