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Net Income Per Share (Tables)
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Summary of Computation of Basic Net Income Per Share and Diluted Net Income Per Share
The following table sets forth the computation of basic net income per share and diluted net income per share under the two-class method. See Note 1 for additional information related to net income per share.

 Fiscal Year
(in thousands, except per share data)202320222021
Numerator for basic and diluted net income per Common Stock and Class B Common Stock share:
Net income$408,375 $430,158 $189,580 
Less dividends:
Common Stock41,844 8,062 7,141 
Class B Common Stock5,024 1,312 2,233 
Total undistributed earnings$361,507 $420,784 $180,206 
Common Stock undistributed earnings – basic$322,749 $364,359 $137,293 
Class B Common Stock undistributed earnings – basic38,758 56,425 42,913 
Total undistributed earnings – basic$361,507 $420,784 $180,206 
Common Stock undistributed earnings – diluted$322,131 $363,158 $136,899 
Class B Common Stock undistributed earnings – diluted39,376 57,626 43,307 
Total undistributed earnings – diluted$361,507 $420,784 $180,206 
Numerator for basic net income per Common Stock share:
Dividends on Common Stock$41,844 $8,062 $7,141 
Common Stock undistributed earnings – basic322,749 364,359 137,293 
Numerator for basic net income per Common Stock share$364,593 $372,421 $144,434 
Numerator for basic net income per Class B Common Stock share:
Dividends on Class B Common Stock$5,024 $1,312 $2,233 
Class B Common Stock undistributed earnings – basic38,758 56,425 42,913 
Numerator for basic net income per Class B Common Stock share$43,782 $57,737 $45,146 
Numerator for diluted net income per Common Stock share:
Dividends on Common Stock$41,844 $8,062 $7,141 
Dividends on Class B Common Stock assumed converted to Common Stock5,024 1,312 2,233 
Common Stock undistributed earnings – diluted361,507 420,784 180,206 
Numerator for diluted net income per Common Stock share$408,375 $430,158 $189,580 
Numerator for diluted net income per Class B Common Stock share:
Dividends on Class B Common Stock$5,024 $1,312 $2,233 
Class B Common Stock undistributed earnings – diluted39,376 57,626 43,307 
Numerator for diluted net income per Class B Common Stock share$44,400 $58,938 $45,540 
 Fiscal Year
(in thousands, except per share data)202320222021
Denominator for basic net income per Common Stock and Class B Common Stock share:
Common Stock weighted average shares outstanding – basic8,369 8,117 7,141 
Class B Common Stock weighted average shares outstanding – basic1,005 1,257 2,232 
Denominator for diluted net income per Common Stock and Class B Common Stock share:
Common Stock weighted average shares outstanding – diluted (assumes conversion of Class B Common Stock to Common Stock)9,392 9,405 9,400 
Class B Common Stock weighted average shares outstanding – diluted1,023 1,288 2,259 
Basic net income per share:
Common Stock$43.56 $45.88 $20.23 
Class B Common Stock$43.56 $45.93 $20.23 
Diluted net income per share:
Common Stock$43.48 $45.74 $20.17 
Class B Common Stock$43.40 $45.76 $20.16 

NOTES TO TABLE

(1)For purposes of the diluted net income per share computation for Common Stock, all shares of Class B Common Stock are assumed to be converted; therefore, 100% of undistributed earnings is allocated to Common Stock.
(2)For purposes of the diluted net income per share computation for Class B Common Stock, weighted average shares of Class B Common Stock are assumed to be outstanding for the entire period and not converted.
(3)For periods presented during which the Company has net income, the denominator for diluted net income per share for Common Stock and Class B Common Stock includes the dilutive effect of shares relative to the Long-Term Performance Equity Plan. For periods presented during which the Company has net loss, the unvested performance units granted pursuant to the Long-Term Performance Equity Plan are excluded from the computation of diluted net loss per share, as the effect would have been anti-dilutive. See Note 2 for additional information on the Long-Term Performance Equity Plan.
(4)The Long-Term Performance Equity Plan awards may be settled in cash and/or shares of the Company’s Class B Common Stock. Once an election has been made to settle an award in cash, the dilutive effect of shares relative to such award is prospectively removed from the denominator in the computation of diluted net income per share.
(5)The Company did not have anti-dilutive shares for any periods presented.