Net Income Per Share

3 Months Ended

Apr. 03, 2022

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
	April 3, 2022		April 4, 2021
Net income	$	37,402	$	41,366
Common stock:
Weighted average basic shares outstanding	215,619		223,334
Dilutive effect of stock options and restricted shares	2,548		3,393
Weighted average diluted shares outstanding	218,167		226,727
Net income per share:
Basic	$	.17	$	.19
Diluted	$	.17	$	.18

Basic net income per share for the three months ended April 3, 2022 and April 4, 2021 was computed by dividing net income amounts by the weighted average number of shares of common stock outstanding. Diluted net income per share 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 3,295 and 1,870 for the three months ended April 3, 2022 and April 4, 2021, respectively, from our diluted net income per share calculation as they would have had anti-dilutive effects.