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Net Income Per Share
 6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
NET INCOME PER SHARE NET INCOME PER SHARE
Basic net income per share is computed by dividing net income during the period by the weighted average number of shares of common stock outstanding during that period, less unvested restricted stock awards. Diluted net income per share is impacted by equity instruments considered to be potential common shares, if dilutive, computed using the treasury stock method of accounting.
The calculations for basic and diluted net income per share for the three and six months ended June 30, 2023 and July 2, 2022 are as follows:
 Three Months Ended Six Months Ended
 June 30,
2023		July 2,
2022		June 30,
2023		July 2,
2022
 (In thousands, except per share amounts)
Net income$221,120 $186,920 $462,924 $422,255 
Weighted average common shares used to calculate basic net income per share269,714 271,520 269,607 272,028 
Stock-based awards3,282 3,652 3,471 4,069 
Weighted average common shares used to calculate diluted net income per share272,996 275,172 273,078 276,097 
Net income per share - basic$0.82 $0.69 $1.72 $1.55 
Net income per share - diluted$0.81 $0.68 $1.70 $1.53 
The following table presents shares of Cadence’s common stock outstanding for the three and six months ended June 30, 2023 and July 2, 2022 that were excluded from the computation of diluted net income per share because the effect of including these shares in the computation of diluted net income per share would have been anti-dilutive:
 Three Months Ended Six Months Ended
 June 30,
2023		July 2,
2022		June 30,
2023		July 2,
2022
 (In thousands)
Long-term market-based awards1,830 1,658 1,828 1,347 
Options to purchase shares of common stock525 857 429 760 
Non-vested shares of restricted stock6 81 28 82 
Total potential common shares excluded2,361 2,596 2,285 2,189