Net Income per Share (Tables)

6 Months Ended

Jun. 25, 2022

Earnings Per Share [Abstract]

Computation of Earnings Per Share, Basic

The following table sets forth the computation of basic net income per share using the two-class method:

	Thirteen weeks ended				Twenty-six weeks ended
	June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021
	(in thousands, except per share data)				(in thousands, except per share data)
Net income	$	53,349	$	59,195	$	51,394	$	124,760
Allocation of net income for basic:
Class A Common Stock	$	44,261	$	48,710	$	42,631	$	102,354
Class B Common Stock		8,956		10,268		8,634		21,893
Unvested participating shares		132		217		129		513
	$	53,349	$	59,195	$	51,394	$	124,760
Weighted average number of shares for basic:
Class A Common Stock		10,221		10,108		10,210		10,072
Class B Common Stock*		2,068		2,131		2,068		2,155
Unvested participating shares		30		44		31		50
		12,319		12,283		12,309		12,277
Net income per share for basic:
Class A Common Stock	$	4.33	$	4.82	$	4.18	$	10.16
Class B Common Stock	$	4.33	$	4.82	$	4.18	$	10.16

*The reduction in Class B Common Stock resulted from the conversion to Class A Common stock during fiscal 2021.

Computation of Diluted Net Income Per Share

The following table sets forth the computation of diluted net income per share, assuming the conversion of all Class B Common Stock into Class A Common Stock for the thirteen and twenty-six weeks ended June 25, 2022 and for the thirteen and twenty-six weeks ended June 26, 2021:

	Thirteen weeks ended
	June 25, 2022						June 26, 2021
	Earnings to Common Shareholders		Common Shares		EPS		Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported - basic	$	44,261		10,221	$	4.33	$	48,710		10,108	$	4.82
Add: effect of dilutive common    shares
Share-based awards		—		52				—		160
Class B Common Stock		8,956		2,068				10,268		2,131
Net effect of unvested participating    shares		132		—				217		66
Net income per common share -    diluted	$	53,349		12,341	$	4.31	$	59,195		12,465	$	4.75
	Twenty-six weeks ended
	June 25, 2022						June 26, 2021
	Earnings to Common Shareholders		Common Shares		EPS		Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported - basic	$	42,631		10,210	$	4.18	$	102,354		10,072	$	10.16
Add: effect of dilutive common    shares
Share-based awards		—		63				—		161
Class B Common Stock		8,634		2,068				21,893		2,155
Net effect of unvested participating    shares		129		—				513		73
Net income per common share -    diluted	$	51,394		12,341	$	4.15	$	124,760		12,461	$	10.01