Net Income per Share (Tables)

9 Months Ended

Sep. 26, 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				Thitry-nine weeks ended
	September 26, 2015		September 27, 2014		September 26, 2015		September 27, 2014
	(in thousands, except per share data)				(in thousands, except per share data)
Net Income	$	38,624	$	37,926	$	82,299	$	71,669
Allocation of net income for basic:
Class A Common Stock	$	28,286	$	26,878	$	59,963	$	50,348
Class B Common Stock		10,159		10,833		21,951		20,919
Unvested participating shares		179		215		385		402
	$	38,624	$	37,926	$	82,299	$	71,669
Weighted average number of shares for basic:
Class A Common Stock		9,655		9,248		9,667		9,148
Class B Common Stock*		3,467		3,727		3,539		3,801
Unvested participating shares		61		74		62		73
		13,183		13,049		13,268		13,022
Net income per share for basic:
Class A Common Stock	$	2.93	$	2.91	$	6.20	$	5.50
Class B Common Stock	$	2.93	$	2.91	$	6.20	$	5.50

* Change in Class B Common Stock resulted from the conversion of 110,000 share to Class A Common Stock on November 4, 2014 and 150,000 shares to Class A Common Stock on May 6, 2015, with the thirteen and thirty-nine-week number of shares reflecting the weighted average for the periods.

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 26, 2015						Thirteen weeks ended September 27, 2014
	Earnings to Common Shareholders		Common Shares		EPS		Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported - basic	$	28,286		9,655	$	2.93	$	26,878		9,248	$	2.91
Add: effect of dilutive potential common shares
Share-based awards		—		385				—		520
Class B Common Stock		10,159		3,467				10,833		3,727
Net effect of unvested participating shares		5		—				7		—
Net income per common share - diluted	$	38,450		13,507	$	2.85	$	37,718		13,495	$	2.79
	Thirty-nine weeks ended September 26, 2015						Thirty-nine weeks ended September 27, 2014
	Earnings to Common Shareholders		Common Shares		EPS		Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported - basic	$	59,963		9,667	$	6.20	$	50,348		9,148	$	5.50
Add: effect of dilutive potential common shares
Share-based awards		—		396				—		523
Class B Common Stock		21,951		3,539				20,919		3,801
Net effect of unvested participating shares		11		—				16		—
Net income per common share - diluted	$	81,925		13,602	$	6.02	$	71,283		13,472	$	5.29