Net Income per Share (Tables)

6 Months Ended

Jun. 29, 2024

Earnings Per Share [Abstract]

Computation of Net Income 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 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
	(in thousands, except per share data)				(in thousands, except per share data)
Net income	$	52,339	$	58,035	$	64,936	$	49,079
Allocation of net income for basic:
Class A Common Stock	$	43,116	$	48,130	$	53,575	$	40,722
Class B Common Stock		9,097		9,783		11,213		8,259
Unvested participating shares		126		122		148		98
	$	52,339	$	58,035	$	64,936	$	49,079
Weighted average number of shares for basic:
Class A Common Stock		9,801		10,174		9,881		10,196
Class B Common Stock		2,068		2,068		2,068		2,068
Unvested participating shares		29		26		27		24
		11,898		12,268		11,976		12,288
Net income per share for basic:
Class A Common Stock	$	4.40	$	4.73	$	5.42	$	3.99
Class B Common Stock	$	4.40	$	4.73	$	5.42	$	3.99

Computation of Net Income per Share, Diluted

The following table sets forth the computations of diluted net income per share, assuming the conversion of all Class B Common Stock into Class A Common Stock for the thirteen weeks and twenty-six weeks ended June 29, 2024 and for the thirteen weeks and twenty-six ended July 1, 2023:

	Thirteen weeks ended
	June 29, 2024						July 1, 2023
	Earnings to Common Shareholders		Common Shares		EPS		Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported - basic	$	43,116		9,801	$	4.40	$	48,130		10,174	$	4.73
Add: effect of dilutive common    shares
Share-based awards		—		19				—		34
Class B Common Stock		9,097		2,068				9,783		2,068
Net effect of unvested participating    shares		—		—				-		—
Net income per common share -    diluted	$	52,213		11,888	$	4.39	$	57,913		12,276	$	4.72
	Twenty-six weeks ended
	June 29, 2024						July 1, 2023
	Earnings to Common Shareholders		Common Shares		EPS		Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported - basic	$	53,575		9,881	$	5.42	$	40,722		10,196	$	3.99
Add: effect of dilutive common    shares
Share-based awards		—		22				—		40
Class B Common Stock		11,213		2,068				8,259		2,068
Net effect of unvested participating    shares		—		—				-		—
Net income per common share -    diluted	$	64,788		11,971	$	5.41	$	48,981		12,304	$	3.98