Net Income per Share (Tables)

6 Months Ended

Jun. 27, 2015

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 27.		June 28,		June 27.		June 28,
	2015		2014		2015		2014
	(in thousands, except per share data)				(in thousands, except per share data)
Net Income	$	29,932	$	25,428	$	43,675	$	33,743
Allocation of net income for basic:
Class A Common Stock	$	21,870	$	17,935	$	31,740	$	23,600
Class B Common Stock		7,923		7,353		11,729		9,955
Unvested participating shares		139		140		206		188
	$	29,932	$	25,428	$	43,675	$	33,743
Weighted average number of shares for basic:
Class A Common Stock		9,748		9,196		9,673		9,097
Class B Common Stock*		3,532		3,770		3,575		3,837
Unvested participating shares		62		72		63		73
		13,342		13,038		13,311		13,007
Net income per share for basic:
Class A Common Stock	$	2.24	$	1.95	$	3.28	$	2.59
Class B Common Stock	$	2.24	$	1.95	$	3.28	$	2.59

* Change in Class B Common Stock resulted from the conversion of 150,000 shares to Class A Common Stock on May 6, 2015, 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 27,						Thirteen weeks ended June 28,
	2015						2014
	Earnings to						Earnings to
	Common		Common				Common		Common
	Shareholders		Shares		EPS		Shareholders		Shares		EPS
	(in thousands, except per share data)
As reported - basic	$	21,870		9,748	$	2.24	$	17,935		9,196	$	1.95
Add: effect of dilutive potential common shares
Share-based awards		—		387				—		520
Class B Common Stock		7,923		3,532				7,353		3,770
Net effect of unvested particpating shares		4		—				5		—
Net income per common share - diluted	$	29,797		13,667	$	2.18	$	25,293		13,486	$	1.88
	Twenty-six weeks ended June 27,						Twenty-six weeks ended June 28,
	2015						2014
	Earnings to						Earnings to
	Common		Common				Common		Common
	Shareholders		Shares		EPS		Shareholders		Shares		EPS
	(in thousands, except per share data)
As reported - basic	$	31,740		9,673	$	3.28	$	23,600		9,097	$	2.59
Add: effect of dilutive potential common shares
Share-based awards		—		402				—		527
Class B Common Stock		11,729		3,575				9,955		3,837
Net effect of unvested particpating shares		6		—				7		—
Net income per common share - diluted	$	43,475		13,650	$	3.18	$	33,562		13,461	$	2.49