Net Income Per Share

3 Months Ended

Apr. 02, 2023

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 2, 2023		April 3, 2022
Net income	$	39,821	$	37,402
Common stock:
Weighted average basic shares outstanding	212,547		215,619
Dilutive effect of stock options and restricted shares	2,482		2,548
Weighted average diluted shares outstanding	215,029		218,167
Basic and diluted net income per share	$	.19	$	.17

Basic net income per share for the three months ended April 2, 2023 and April 3, 2022 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 4,532 and 3,295 for the three months ended April 2, 2023 and April 3, 2022, respectively, from our diluted net income per share calculation as they would have had anti-dilutive effects.