Net Income Per Share

9 Months Ended

Oct. 03, 2021

Earnings Per Share [Abstract]

Net Income Per Share

Net Income Per Share

The calculation of basic and diluted net income per share was as follows:

	Three Months Ended				Nine Months Ended
	October 3, 2021		September 27, 2020		October 3, 2021		September 27, 2020
Net income	$	41,171	$	39,753	$	148,261	$	79,098
Common stock:
Weighted average basic shares outstanding	222,373		223,907		222,527		223,521
Dilutive effect of stock options and restricted shares	2,685		4,410		3,201		4,312
Weighted average diluted shares outstanding	225,058		228,317		225,728		227,833
Net income per share:
Basic	$	.19	$	.18	$	.67	$	.35
Diluted	$	.18	$	.17	$	.66	$	.35

Basic net income per share for the three and nine months ended October 3, 2021 and September 27, 2020 was computed by dividing net income amounts by the weighted average number of shares of common stock outstanding. Diluted net income per share for the three and nine months ended October 3, 2021 and September 27, 2020 was computed by dividing net income by the weighted average number of basic shares outstanding plus the potential common share effect of dilutive stock options and restricted shares. We excluded potential common shares of 2,746 and 2,147 for the three and nine months ended October 3, 2021, respectively, and 1,049 and 2,117 for the three and nine months ended September 27, 2020, respectively, from our diluted net income per share calculation as they would have had anti-dilutive effects.