Earnings Per Share

12 Months Ended

Dec. 30, 2021

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 for the periods presented:


	Fiscal Year Ended
in thousands, except per share data	December 30, 2021		December 31, 2020		December 26, 2019
Net income	$	283,230	$	194,981	$	150,631
Basic weighted average shares outstanding	104,683		102,690		99,435
Dilutive effect of share-based awards	2,707		3,452		5,527
Diluted weighted average shares outstanding	107,390		106,142		104,962
Basic earnings per share	$	2.71	$	1.90	$	1.51
Diluted earnings per share	$	2.64	$	1.84	$	1.44

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

Fiscal Year Ended

in thousands

December 30,
2021

December 31,
2020

December 26,
2019

Stock options

320

971