Net Income Per Share

12 Months Ended

Jan. 02, 2026

Earnings Per Share [Abstract]

NET INCOME PER SHARE

NET INCOME PER SHARE

Net income per share - basic and diluted, were computed as follows (in thousands, except per share amounts):

	Year Ended December 31,
	2025		2024		2023
Numerator:
Net income	$	782,570	$	521,267	$	207,765
Denominator:
Weighted-average common shares outstanding - basic	271,567		290,030		318,151
Dilutive securities	10,296		6,102		3,313
Weighted-average common shares outstanding - diluted	281,863		296,132		321,464
Net income per share - basic	$	2.88	$	1.80	$	0.65
Net income per share - diluted	$	2.78	$	1.76	$	0.65

Basic net income per share is computed using the weighted-average number of common shares outstanding during the period. The diluted net income per share is computed using the weighted-average number of common shares outstanding and dilutive potential common shares outstanding during the period. Dilutive common shares outstanding includes the dilutive effect of in-the-money options, unvested RSUs (including market conditions-based RSUs), and unvested PSUs when the performance condition is met and ESPP contributions. The dilutive effect of such equity awards is calculated based on the average share price for each fiscal period using the treasury stock method.

Certain potential common shares were excluded from our calculation of weighted-average common shares outstanding - diluted because either they would have had an anti-dilutive effect on net income per share or they were related to shares from PSUs or from market conditions-based RSUs that were contingently issuable and the contingency had not been satisfied at the end of the reporting period.

The weighted-average potential common shares excluded from our calculation were as follows (in thousands):

	Year Ended December 31,
	2025	2024	2023
Anti-dilutive securities and contingently issuable shares excluded	1,884	5,708	11,703