Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

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EARNINGS PER SHARE
 3 Months Ended
Mar. 30, 2024
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
The calculations of basic and diluted earnings per share ("EPS") are based on net income divided by the basic weighted average number of common shares and diluted weighted average number of common shares outstanding, respectively.
The following table presents the calculations of basic and diluted EPS:
Three Months Ended March
(In thousands, except per share amounts) 2024 2023
Net income $ 59,507  $ 66,296 
Basic weighted average shares outstanding 55,735  55,646 
Dilutive effect of stock-based awards 1,004  1,294 
Diluted weighted average shares outstanding 56,739  56,940 
Earnings per share:
Basic earnings per share $ 1.07  $ 1.19 
Diluted earnings per share $ 1.05  $ 1.16 
For the three months ended March 2024 and March 2023, an immaterial number of shares were excluded from the dilutive earnings per share calculations because the effect of their inclusion would have been anti-dilutive.
For both the three months ended March 2024 and March 2023, a total of 0.6 million shares of performance-based restricted stock units ("PRSUs"), were excluded from the calculations of diluted earnings per share as the units were not considered to be contingent outstanding shares.