Earnings Per Share

3 Months Ended

Apr. 03, 2021

Earnings Per Share [Abstract]

Earnings Per Share

16. Earnings Per Share

The computations of basic and diluted net earnings per share for the first quarter of 2021 and 2020 are as follows (in thousands, except per share amounts):

	Three Months (13 Weeks) Ended
	April 3, 2021			April 4, 2020
Basic net earnings per share:
Basic net earnings	$	942,432		$	20,331
Earnings allocated to participating securities		(5,376	)		(630	)
Net earnings available to common stockholders	$	937,056		$	19,701
Basic average shares outstanding		301,846			302,909
Basic net earnings per share	$	3.10		$	0.07
Diluted net earnings per share:
Diluted net earnings	$	942,432		$	20,331
Earnings allocated to participating securities		(5,363	)		(630	)
Net earnings available to common stockholders	$	937,069		$	19,701
Diluted average shares outstanding:
Basic average shares outstanding		301,846			302,909
Dilutive effect of stock options and other		672			23
		302,518			302,932
Diluted net earnings per share	$	3.10		$	0.07

The following stock options were excluded from the computation of diluted net earnings per share for the first quarter of 2021 and 2020 because their effect would have been anti-dilutive (shares in thousands):

	Three Months (13 Weeks) Ended
	April 3, 2021		April 4, 2020
Anti-dilutive stock options:
Weighted-average shares		249		3,701
Weighted-average exercise price	$	65.80	$	51.38