Net Income Per Share

6 Months Ended

Jul. 03, 2022

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


	Three Months Ended				Six Months Ended
	July 3, 2022		July 4, 2021		July 3, 2022		July 4, 2021
Net income	$	48,151	$	65,724	$	85,553	$	107,090

Common stock:
Weighted average basic shares outstanding	213,673		221,874		214,646		222,604
Dilutive effect of stock options and restricted shares	1,569		3,526		2,058		3,459
Weighted average diluted shares outstanding	215,242		225,400		216,704		226,063

Net income per share:
Basic	$	.23	$	.30	$	.40	$	.48
Diluted	$	.22	$	.29	$	.39	$	.47

Basic net income per share for the three and six months ended July 3, 2022 and July 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 5,538 and 4,417 for the three and six months ended July 3, 2022, respectively, and 1,825 and 1,847 for the three and six months ended July 4, 2021, respectively, from our diluted net income per share calculation as they would have had anti-dilutive effects.