Earnings Per Share

9 Months Ended

Oct. 01, 2022

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 2022 and 2021 are as follows (in thousands, except per share amounts):

	Three Months (13 Weeks) Ended						Nine Months (39 Weeks) Ended
	October 1, 2022			October 2, 2021			October 1, 2022			October 2, 2021
Basic net earnings per share:
Basic net earnings	$	1,694,748		$	2,127,743		$	6,351,604		$	4,577,043
Earnings allocated to participating securities		(6,893	)		(9,442	)		(26,238	)		(22,272	)
Net earnings available to common stockholders	$	1,687,855		$	2,118,301		$	6,325,366		$	4,554,771
Basic average shares outstanding		259,102			290,510			264,655			296,431
Basic net earnings per share	$	6.51		$	7.29		$	23.90		$	15.37
Diluted net earnings per share:
Diluted net earnings	$	1,694,748		$	2,127,743		$	6,351,604		$	4,577,043
Earnings allocated to participating securities		(6,872	)		(9,401	)		(26,145	)		(22,194	)
Net earnings available to common stockholders	$	1,687,876		$	2,118,342		$	6,325,459		$	4,554,849
Diluted average shares outstanding:
Basic average shares outstanding		259,102			290,510			264,655			296,431
Dilutive effect of stock options and other		424			642			584			497
		259,526			291,152			265,239			296,928
Diluted net earnings per share	$	6.50		$	7.28		$	23.85		$	15.34

The following stock options were excluded from the computation of diluted net earnings per share for the third quarter and first nine months of 2022 and 2021 because their effect would have been anti-dilutive (shares in thousands):

	Three Months (13 Weeks) Ended				Nine Months (39 Weeks) Ended
	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
Anti-dilutive stock options:
Weighted-average shares		98		52		33		119
Weighted-average exercise price	$	130.71	$	110.74	$	130.71	$	78.91