Earnings Per Share (Tables)

6 Months Ended

Jul. 03, 2021

Earnings Per Share [Abstract]

Computations of Basic and Diluted Net Earnings Per Share

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

	Three Months (13 Weeks) Ended						Six Months (26 Weeks) Ended
	July 3, 2021			July 4, 2020			July 3, 2021			July 4, 2020
Basic net earnings per share:
Basic net earnings	$	1,506,868		$	108,881		$	2,449,300		$	129,212
Earnings allocated to participating securities		(6,676	)		(792	)		(12,426	)		(1,423	)
Net earnings available to common stockholders	$	1,500,192		$	108,089		$	2,436,874		$	127,789
Basic average shares outstanding		296,817			302,921			299,359			302,915
Basic net earnings per share	$	5.05		$	0.36		$	8.14		$	0.42
Diluted net earnings per share:
Diluted net earnings	$	1,506,868		$	108,881		$	2,449,300		$	129,212
Earnings allocated to participating securities		(6,649	)		(792	)		(12,385	)		(1,423	)
Net earnings available to common stockholders	$	1,500,219		$	108,089		$	2,436,915		$	127,789
Diluted average shares outstanding:
Basic average shares outstanding		296,817			302,921			299,359			302,915
Dilutive effect of stock options and other		712			12			379			17
		297,529			302,933			299,738			302,932
Diluted net earnings per share	$	5.04		$	0.36		$	8.13		$	0.42

Anti-dilutive Stock Options

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

	Three Months (13 Weeks) Ended				Six Months (26 Weeks) Ended
	July 3, 2021		July 4, 2020		July 3, 2021		July 4, 2020
Anti-dilutive stock options:
Weighted-average shares		52		3,749		152		3,724
Weighted-average exercise price	$	110.74	$	50.69	$	73.47	$	51.04