v3.25.1
Earnings Per Share
3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Earnings Per Share

(15) Earnings Per Share

The reconciliation of the numerator and denominator used to calculate basic earnings per share and diluted earnings per share is as follows:

 

 

 

For the Quarter Ended

 

 

 

March 31, 2025

 

 

April 1, 2024

 

 

 

(In thousands, except per share amounts)

 

Net income

 

$

32,178

 

 

$

10,466

 

 

 

 

 

 

 

Basic weighted average shares

 

 

101,866

 

 

 

101,952

 

Dilutive effect of PRUs, RSUs, and
    stock options

 

 

2,664

 

 

 

2,146

 

Diluted shares

 

 

104,530

 

 

 

104,098

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

Basic earnings per share

 

$

0.32

 

 

$

0.10

 

Diluted earnings per share

 

 

0.31

 

 

 

0.10

 

For the quarters ended March 31, 2025 and April 1, 2024, PRUs, RSUs, and stock options to purchase 130 and 24 shares of common stock, respectively, were not included in the computation of diluted earnings per share. The PRUs were not included in the computation of diluted earnings per share because the performance conditions had not been met, and for the RSUs and stock options, the total expected proceeds under the treasury stock method or the options’ exercise prices were greater than the average market price of common stock during the applicable quarters and, as a result, the impact would be anti-dilutive.