Earnings Per Share

9 Months Ended

Oct. 02, 2021

Earnings Per Share [Abstract]

Earnings Per Share

16. Earnings Per Share

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

	Three Months (13 Weeks) Ended						Nine Months (39 Weeks) Ended
	Oct. 2, 2021			Oct. 3, 2020			Oct. 2, 2021			Oct. 3, 2020
Basic net earnings per share:
Basic net earnings	$	2,127,743		$	193,415		$	4,577,043		$	322,627
Earnings allocated to participating securities		(9,442	)		(1,201	)		(22,272	)		(2,182	)
Net earnings available to common stockholders	$	2,118,301		$	192,214		$	4,554,771		$	320,445
Basic average shares outstanding		290,510			303,394			296,431			303,072
Basic net earnings per share	$	7.29		$	0.63		$	15.37		$	1.06
Diluted net earnings per share:
Diluted net earnings	$	2,127,743		$	193,415		$	4,577,043		$	322,627
Earnings allocated to participating securities		(9,401	)		(1,202	)		(22,194	)		(2,182	)
Net earnings available to common stockholders	$	2,118,342		$	192,213		$	4,554,849		$	320,445
Diluted average shares outstanding:
Basic average shares outstanding		290,510			303,394			296,431			303,072
Dilutive effect of stock options and other		642			47			497			27
		291,152			303,441			296,928			303,099
Diluted net earnings per share	$	7.28		$	0.63		$	15.34		$	1.06

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

	Three Months (13 Weeks) Ended				Nine Months (39 Weeks) Ended
	Oct. 2, 2021		Oct. 3, 2020		Oct. 2, 2021		Oct. 3, 2020
Anti-dilutive stock options:
Weighted-average shares		52		3,463		119		3,638
Weighted-average exercise price	$	110.74	$	51.38	$	78.91	$	51.15