v3.25.2
EARNINGS PER SHARE - SCHEDULE OF BASIC AND DILUTED EARNINGS PER SHARE (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 29, 2025
Jun. 30, 2024
Jun. 29, 2025
Jun. 30, 2024
Common Stock        
Basic earnings per share:        
Allocation of distributed earnings (cash dividends paid) $ 203,237 $ 202,527 $ 406,837 $ 407,938
Allocation of undistributed earnings (156,214) (67,107) (191,695) 325,740
Total earnings—basic $ 47,023 $ 135,420 $ 215,142 $ 733,678
Total weighted-average shares—basic (shares) 148,247 147,893 148,175 148,753
Net income per share - basic (USD per share) $ 0.32 $ 0.92 $ 1.45 $ 4.93
Numerator:        
Allocation of total earnings used in basic computation $ 47,023 $ 135,420 $ 215,142 $ 733,678
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock 15,696 45,474 71,780 244,669
Reallocation of undistributed earnings 0 0 0 0
Total earnings—diluted $ 62,719 $ 180,894 $ 286,922 $ 978,347
Conversion of Class B common stock to Common shares outstanding (shares) 54,614 54,614 54,614 54,614
Total weighted-average shares—diluted (shares) 203,188 203,007 203,168 203,943
Net income per share - diluted (USD per share) $ 0.31 $ 0.89 $ 1.41 $ 4.80
Common Stock | Employee Stock Option        
Numerator:        
Incremental common shares attributable to dilutive effect of share-based payment arrangements (shares) 190 299 193 308
Common Stock | Performance Stock Units and Restricted Stock Units        
Numerator:        
Incremental common shares attributable to dilutive effect of share-based payment arrangements (shares) 137 201 186 268
Class B common stock        
Basic earnings per share:        
Allocation of distributed earnings (cash dividends paid) $ 67,994 $ 67,994 $ 135,988 $ 135,988
Allocation of undistributed earnings (52,298) (22,520) (64,208) 108,681
Total earnings—basic $ 15,696 $ 45,474 $ 71,780 $ 244,669
Total weighted-average shares—basic (shares) 54,614 54,614 54,614 54,614
Net income per share - basic (USD per share) $ 0.29 $ 0.83 $ 1.31 $ 4.48
Numerator:        
Allocation of total earnings used in basic computation $ 15,696 $ 45,474 $ 71,780 $ 244,669
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock 0 0 0 0
Reallocation of undistributed earnings 86 57 123 (314)
Total earnings—diluted $ 15,782 $ 45,531 $ 71,903 $ 244,355
Conversion of Class B common stock to Common shares outstanding (shares) 0 0 0 0
Total weighted-average shares—diluted (shares) 54,614 54,614 54,614 54,614
Net income per share - diluted (USD per share) $ 0.29 $ 0.83 $ 1.32 $ 4.47
Class B common stock | Employee Stock Option        
Numerator:        
Incremental common shares attributable to dilutive effect of share-based payment arrangements (shares) 0 0 0 0
Class B common stock | Performance Stock Units and Restricted Stock Units        
Numerator:        
Incremental common shares attributable to dilutive effect of share-based payment arrangements (shares) 0 0 0 0