Basic earnings per share was calculated by dividing our net income by the weighted average number of shares of common stock outstanding during the period. To calculate diluted earnings per share, common stock equivalents are added to the weighted average number of shares of common stock outstanding. Common stock equivalents are calculated using the treasury stock method and are computed based on outstanding stock-based awards.

For the three months ended June 27, 2026, and June 28, 2025, there were approximately 84,000 shares and 127,000 shares, respectively, and for the six months ended June 27, 2026, and June 28, 2025, there were approximately 81,000 shares and 83,000 shares, respectively, that were excluded from the calculation of diluted earnings per share because their effect would have been anti-dilutive.

The following table sets forth the computation of basic earnings per share and diluted earnings per share:


	Three Months Ended				Six Months Ended
(in thousands, except per share data)	June 27, 2026		June 28, 2025		June 27, 2026		June 28, 2025
Numerator:
Net income	$	87,771	$	58,709	$	131,322	$	116,214
Denominator:
Weighted average basic shares outstanding	29,864		30,518		30,041		30,547
Effect of stock-based compensation awards	131		162		164		197
Weighted average diluted shares outstanding	29,995		30,680		30,205		30,744
Earnings Per Share:
Basic	$	2.94	$	1.92	$	4.37	$	3.80
Diluted	$	2.93	$	1.91	$	4.35	$	3.78