Net Income per Share (Tables)

9 Months Ended

Sep. 28, 2013

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				Thirty-nine weeks ended
	September 28, 2013		September 29, 2012		September 28, 2013		September 29, 2012
	(in thousands, except per share data)
Net income	$	25,686	$	20,750	$	52,313	$	42,594
Allocation of net income for basic:
Class A Common Stock	$	17,478	$	13,974	$	35,511	$	28,648
Class B Common Stock		8,024		6,586		16,420		13,552
Unvested participating shares		184		190		382		394
	$	25,686	$	20,750	$	52,313	$	42,594
Weighted average number of shares for basic:
Class A Common Stock		8,730		8,715		8,734		8,683
Class B Common Stock*		4,007		4,107		4,039		4,107
Unvested participating shares		92		118		94		119
		12,829		12,940		12,867		12,909
Net income per share for basic:
Class A Common Stock	$	2.00	$	1.60	$	4.07	$	3.30
Class B Common Stock	$	2.00	$	1.60	$	4.07	$	3.30

* Change in Class B Common Stock resulted from the conversion of 100,000 shares to Class A Common Stock on March 25, 2013, with the 39-week number of shares reflecting the weighted average for the period.

Computation of Earnings Per Share, Diluted

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 and using the two-class method for unvested participating shares:

	Thirteen weeks ended September 28,     2013						Thirteen weeks ended September 29,  2012
	Earnings to Common Shareholders		Common Shares		EPS		Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported - basic	$	17,478		8,730	$	2.00	$	13,974		8,715	$	1.60
Add: effect of dilutive potential common shares
Share-based awards		—		761				—		630
Class B Common Stock		8,024		4,007				6,586		4,107
Net effect of unvested participating shares		10		—				9		—
Net income per common share - diluted	$	25,512		13,498	$	1.89	$	20,569		13,452	$	1.53

	Thirty-nine weeks ended September 28, 2013						Thirty-nine weeks ended September 29, 2012
	Earnings to Common Shareholders		Common Shares		EPS		Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported - basic	$	35,511		8,734	$	4.07	$	28,648		8,683	$	3.30
Add: effect of dilutive potential common shares
Share-based awards		—		715				—		646
Class B Common Stock		16,420		4,039				13,552		4,107
Net effect of unvested participating shares		20		—				19		—
Net income per common share - diluted	$	51,951		13,488	$	3.85	$	42,219		13,436	$	3.14