16. Earnings Per Share The computations of basic and diluted net earnings per share for the first quarter of 2024 and 2023 are as follows (in thousands, except per share data):
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Three Months (13 Weeks) Ended |
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March 30, 2024 |
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April 1, 2023 |
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Basic net earnings per share: |
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Basic net earnings |
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$ |
844,841 |
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$ |
1,136,542 |
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Earnings allocated to participating securities |
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|
(3,221 |
) |
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|
(3,413 |
) |
Net earnings available to common stockholders |
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$ |
841,620 |
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$ |
1,133,129 |
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Basic average shares outstanding |
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|
243,098 |
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|
|
253,608 |
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Basic net earnings per share |
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$ |
3.46 |
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$ |
4.47 |
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Diluted net earnings per share: |
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Diluted net earnings |
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$ |
844,841 |
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$ |
1,136,542 |
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Earnings allocated to participating securities |
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|
(3,213 |
) |
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|
(3,392 |
) |
Net earnings available to common stockholders |
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$ |
841,628 |
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$ |
1,133,150 |
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Diluted average shares outstanding: |
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Basic average shares outstanding |
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243,098 |
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|
253,608 |
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Dilutive effect of stock options and other |
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|
399 |
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|
|
789 |
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243,497 |
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|
254,397 |
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Diluted net earnings per share |
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$ |
3.46 |
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$ |
4.45 |
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There were no shares excluded from the computation of diluted earnings per common share because their effect would have been antidilutive in either the first quarter of 2024 or the first quarter of 2023.
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