Earnings Per Share

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Net Income per Common Share

The Company calculates basic earnings per share by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding adjusted for the dilutive effect of share-based awards.

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

	Thirteen Weeks Ended				Thirty-nine Weeks Ended
in thousands, except per share data	September 30, 2021		September 24, 2020		September 30, 2021		September 24, 2020
Net income	$	74,645	$	68,774	$	233,357	$	137,841
Basic weighted average shares outstanding	104,899		103,180		104,506		102,308
Dilutive effect of share-based awards	2,587		3,199		2,795		3,500
Diluted weighted average shares outstanding	107,486		106,379		107,301		105,808
Basic earnings per share	$	0.71	$	0.67	$	2.23	$	1.35
Diluted earnings per share	$	0.69	$	0.65	$	2.17	$	1.30

The following potentially dilutive securities were excluded from the computation of diluted earnings per share as a result of their anti-dilutive effect:

	Thirteen Weeks Ended		Thirty-nine Weeks Ended
in thousands	September 30, 2021	September 24, 2020	September 30, 2021	September 24, 2020
Stock options	66	266	66	481