Earnings Per Share

3 Months Ended

Mar. 27, 2022

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 27, 2022		March 28, 2021
Net income	$	222,502	$	259,144
Basic weighted-average shares outstanding	152,820		153,478
Effect of dilutive securities – employee stock compensation plan	1,104		1,012
Diluted weighted-average shares outstanding	153,924		154,490
Net earnings per share:
Basic	$	1.46	$	1.69
Diluted	$	1.45	$	1.68

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 0.5 million and 0.6 million shares for the three months ended March 27, 2022 and March 28, 2021, respectively.