Earnings Per Share

6 Months Ended

Jun. 26, 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				Six months ended
	June 26, 2022		June 27, 2021		June 26, 2022		June 27, 2021
Net income	$	215,849	$	206,340	$	438,351	$	465,484
Basic weighted-average shares outstanding	147,211		153,748		149,936		153,616
Effect of dilutive securities – employee stock compensation plan	624		1,345		876		1,178
Diluted weighted-average shares outstanding	147,835		155,093		150,812		154,794
Net earnings per share:
Basic	$	1.47	$	1.34	$	2.92	$	3.03
Diluted	$	1.46	$	1.33	$	2.91	$	3.01

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 1.3 million and 0.5 million shares for the three months ended June 26, 2022 and June 27, 2021, respectively, and 2.4 million and 0.5 million shares for the six months ended June 26, 2022 and June 27, 2021, respectively.