Annual report [Section 13 and 15(d), not S-K Item 405]

EARNINGS PER SHARE

v3.25.0.1
EARNINGS PER SHARE
 12 Months Ended
Dec. 28, 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:
Year Ended December
(In thousands, except per share amounts) 2024 2023 2022
Net income $ 245,802  $ 230,994  $ 245,493 
Basic weighted average shares outstanding 55,549  55,961  55,744 
Dilutive effect of stock-based awards 772  970  1,218 
Diluted weighted average shares outstanding 56,321  56,931  56,962 
Earnings per share:
Basic earnings per share $ 4.42  $ 4.13  $ 4.40 
Diluted earnings per share $ 4.36  $ 4.06  $ 4.31 
For the years ended December 2024, December 2023 and December 2022, 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 the years ended December 2024, December 2023 and December 2022, a total of 0.6 million, 0.6 million and 0.3 million shares of PRSUs, respectively, were excluded from the calculations of diluted earnings per share as the units were not considered to be contingent outstanding shares.