Earnings Per Share

3 Months Ended

Mar. 28, 2021

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The computation of basic and diluted earnings per share was as follows (in thousands, except per share amounts):

	Three months ended
	March 28, 2021		March 29, 2020
Net income	$	259,144	$	69,695
Basic weighted-average shares outstanding	153,478		153,004
Effect of dilutive securities – employee stock compensation plan	1,012		740
Diluted weighted-average shares outstanding	154,490		153,744
Net earnings per share:
Basic	$	1.69	$	0.46
Diluted	$	1.68	$	0.45

Shares of common stock related to share-based compensation that were not included in the effect of dilutive securities because the effect would have been anti-dilutive include 0.6 million and 1.7 million shares for the three months ended March 28, 2021 and March 29, 2020, respectively.