Net Income per Share (Tables)

9 Months Ended

Sep. 28, 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				Thirty-nine weeks ended
	September 28, 2024		September 30, 2023		September 28, 2024		September 30, 2023
	(in thousands, except per share data)				(in thousands, except per share data)
Net income	$	33,514	$	45,295	$	98,450	$	94,374
Allocation of net income for basic:
Class A Common Stock	$	27,500	$	37,542	$	81,082	$	78,276
Class B Common Stock		5,933		7,660		17,140		15,908
Unvested participating shares		81		93		228		190
	$	33,514	$	45,295	$	98,450	$	94,374
Weighted average number of shares for basic:
Class A Common Stock		9,586		10,135		9,783		10,175
Class B Common Stock		2,068		2,068		2,068		2,068
Unvested participating shares		28		25		27		25
		11,682		12,228		11,878		12,268
Net income per share for basic:
Class A Common Stock	$	2.87	$	3.70	$	8.29	$	7.69
Class B Common Stock	$	2.87	$	3.70	$	8.29	$	7.69

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 thirty-nine weeks ended September 28, 2024 and for the thirteen weeks and thirty-nine ended September 30, 2023:

	Thirteen weeks ended
	September 28, 2024						September 30, 2023
	Earnings to Common Shareholders		Common Shares		EPS		Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported - basic	$	27,500		9,586	$	2.87	$	37,542		10,135	$	3.70
Add: effect of dilutive common    shares
Share-based awards		—		17				—		30
Class B Common Stock		5,933		2,068				7,660		2,068
Net effect of unvested participating    shares		—		—				1		—
Net income per common share -    diluted	$	33,433		11,671	$	2.86	$	45,203		12,233	$	3.70
	Thirty-nine weeks ended
	September 28, 2024						September 30, 2023
	Earnings to Common Shareholders		Common Shares		EPS		Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported - basic	$	81,082		9,783	$	8.29	$	78,276		10,175	$	7.69
Add: effect of dilutive common    shares
Share-based awards		—		20				—		37
Class B Common Stock		17,140		2,068				15,908		2,068
Net effect of unvested participating    shares		—		—				1		—
Net income per common share -    diluted	$	98,222		11,871	$	8.27	$	94,185		12,280	$	7.67