Net Income per Share (Tables)

12 Months Ended

Dec. 31, 2016

Computation of Earnings Per Share, Basic

The following table sets forth the computation of basic net income per share using the two-class method:

	December 31, 2016 (53 weeks)		December 26, 2015		December 27, 2014
	(in thousands, except per share data)
Net Income	$	87,349	$	98,414	$	90,743
Allocation of net income for basic:
Class A Common Stock	$	63,717	$	71,798	$	64,027
Class B Common Stock		23,190		26,154		26,207
Unvested participating shares		442		462		509
	$	87,349	$	98,414	$	90,743
Weighted average number of shares for basic:
Class A Common Stock		9,189		9,619		9,202
Class B Common Stock*		3,344		3,504		3,766
Unvested participating shares		64		62		73
		12,597		13,185		13,041
Net income per share for basic:
Class A Common Stock	$	6.93	$	7.46	$	6.96
Class B Common Stock	$	6.93	$	7.46	$	6.96

* Change in Class B Common Stock resulted from the conversion of 150,000 shares to Class A Common Stock on May 6, 2015, 100,000 shares to Class A Common Stock on October 26, 2015, 125,000 shares to Class A Common Stock on November 4, 2016 and 45,000 shares to Class A Common Stock on November 30, 2016, with the ending number of shares reflecting the weighted average for the period.

Computation of Earnings Per Share, Diluted

The following tables set 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:

	Fifty-three weeks ended December 31, 2016
	Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported — basic	$	63,717		9,189	$	6.93
Add: effect of dilutive potential common shares Share-based awards		—		263
Class B Common Stock		23,190		3,344
Net effect of unvested participating shares		9
Net income per common share — diluted	$	86,916		12,796	$	6.79
	Fifty-two weeks ended December 26, 2015
	Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported — basic	$	71,798		9,619	$	7.46
Add: effect of dilutive potential common shares Share-based awards		—		397
Class B Common Stock		26,154		3,504
Net effect of unvested participating shares		14
Net income per common share — diluted	$	97,966		13,520	$	7.25
	Fifty-two weeks ended December 27, 2014
	Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported — basic	$	64,027		9,202	$	6.96
Add: effect of dilutive potential common shares Share-based awards		—		516
Class B Common Stock		26,207		3,766
Net effect of unvested participating shares		19		—
Net income per common share — diluted	$	90,253		13,484	$	6.69