Net Income Per Share

6 Months Ended

Jul. 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				Six Months Ended
	July 2, 2023		July 3, 2022		July 2, 2023		July 3, 2022
Net income	$	59,632	$	48,151	$	99,453	$	85,553
Common stock:
Weighted average basic shares outstanding	210,624		213,673		211,585		214,646
Dilutive effect of stock options and restricted shares	2,304		1,569		2,393		2,058
Weighted average diluted shares outstanding	212,928		215,242		213,978		216,704
Net income per share:
Basic	$	.28	$	.23	$	.47	$	.40
Diluted	$	.28	$	.22	$	.46	$	.39

Basic net income per share for the three and six months ended July 2, 2023 and July 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 4,420 and 4,476 for the three and six months ended July 2, 2023, respectively, and 5,538 and 4,417 for the three and six months ended July 3, 2022, respectively, from our diluted net income per share calculation as they would have had anti-dilutive effects.