Years Ended

June 29,

July 1,

July 2,

2024

2023

2022

(Thousands, except per share data)

Numerator:

Net income

$

498,699

$

770,828

$

692,379

Denominator:

Weighted average common shares for basic earnings per share

90,567

92,043

98,662

Net effect of dilutive stock-based compensation awards

1,270

1,325

1,157

Weighted average common shares for diluted earnings per share

91,837

93,368

99,819

Basic earnings per share

$

5.51

$

8.37

$

7.02

Diluted earnings per share

$

5.43

$

8.26

$

6.94

Stock options excluded from earnings per share calculation due to an anti-dilutive effect

79

140

230