Net Income per Share (Tables)

6 Months Ended

Jun. 28, 2014

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 28, 2014		June 29, 2013		June 28, 2014		June 29, 2013
	(in thousands, except per share data)
Net income	$	25,428	$	19,715	$	33,743	$	26,627
Allocation of net income for basic:
Class A Common Stock	$	17,935	$	13,431	$	23,600	$	18,053
Class B Common Stock		7,353		6,141		9,955		8,378
Unvested participating shares		140		143		188		196
	$	25,428	$	19,715	$	33,743	$	26,627
Weighted average number of shares for basic:
Class A Common Stock		9,196		8,765		9,097		8,737
Class B Common Stock*		3,770		4,007		3,837		4,055
Unvested participating shares		72		94		73		95
		13,038		12,866		13,007		12,887
Net income per share for basic:
Class A Common Stock	$	1.95	$	1.53	$	2.59	$	2.07
Class B Common Stock	$	1.95	$	1.53	$	2.59	$	2.07

* Change in Class B Common Stock resulted from the conversion of 135,000 shares to Class A Common Stock on February 18, 2014 and 100,000 shares to Class A Common Stock on May 7, 2014, with the 26-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 June 28, 2014						Thirteen weeks ended June 29, 2013
	Earnings to Common Shareholders		Common Shares		EPS		Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported - basic	$	17,935		9,196	$	1.95	$	13,431		8,765	$	1.53
Add: effect of dilutive potential common shares
Share-based awards		—		520				—		690
Class B Common Stock		7,353		3,770				6,141		4,007
Net effect of unvested participating shares		5		—				7		—
Net income per common share - diluted	$	25,293		13,486	$	1.88	$	19,579		13,462	$	1.45

	Twenty-six weeks ended June 28, 2014						Twenty-six weeks ended June 29, 2013
	Earnings to Common Shareholders		Common Shares		EPS		Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported - basic	$	23,600		9,097	$	2.59	$	18,053		8,737	$	2.07
Add: effect of dilutive potential common shares
Share-based awards		—		527				—		692
Class B Common Stock		9,955		3,837				8,378		4,055
Net effect of unvested participating shares		7		—				10		—
Net income per common share - diluted	$	33,562		13,461	$	2.49	$	26,441		13,484	$	1.96