Net Income Per Share

9 Months Ended

Sep. 28, 2019

Earnings Per Share [Abstract]

Net Income Per Share

Net Income Per Share:

The Company presents both basic and diluted net income per share on the Condensed Consolidated Statements of Income.  Basic net income per share is calculated by dividing net income by the weighted average number of shares outstanding during the period.  Diluted net income per share is calculated by dividing net income by the weighted average diluted shares outstanding during the period. Dilutive shares are computed using the treasury stock method for share-based awards. Performance-based restricted share units are included in diluted shares only if the related performance conditions are considered satisfied as of the end of the reporting period. Net income per share is calculated as follows (in thousands, except per share amounts):

	Fiscal Three Months Ended						Fiscal Three Months Ended
	September 28, 2019						September 29, 2018
	Income		Shares	Per Share Amount			Income		Shares	Per Share  Amount
Basic net income per share:	$	122,133	118,956	$	1.03		$	116,784	121,876	$	0.96
Dilutive effect of share-based awards	—		1,102	(0.01		)	—		885	(0.01		)
Diluted net income per share:	$	122,133	120,058	$	1.02		$	116,784	122,761	$	0.95

	Fiscal Nine Months Ended						Fiscal Nine Months Ended
	September 28, 2019						September 29, 2018
	Income		Shares	Per Share Amount			Income		Shares	Per Share  Amount
Basic net income per share:	$	418,175	120,180	$	3.48		$	395,506	122,818	$	3.22
Dilutive effect of share-based awards	—		1,059	(0.03		)	—		752	(0.02		)
Diluted net income per share:	$	418,175	121,239	$	3.45		$	395,506	123,570	$	3.20

Anti-dilutive stock awards excluded from the above calculations totaled approximately 0.3 million and 1.8 million shares for the fiscal three months ended September 28, 2019 and September 29, 2018, respectively, and 0.4 million and 3.4 million shares for the fiscal nine months ended September 28, 2019 and September 29, 2018, respectively.