EARNINGS PER SHARE

6 Months Ended

Jul. 04, 2026

Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share includes the effect of all potentially dilutive securities, which includes dilutive stock options and other stock-based awards.

The following table sets forth the calculation of earnings per share and weighted-average common shares outstanding at the dates indicated (in thousands, except per share data):


	Three Months Ended				Six Months Ended
	July 4, 2026		June 28, 2025		July 4, 2026		June 28, 2025
Net income	$	71,317	$	51,151	$	81,168	$	67,760

Weighted-average common shares outstanding—basic	74,685		82,732		75,002		82,665
Effect of dilutive securities	1,097		731		1,263		838
Weighted-average common shares outstanding—diluted	75,782		83,463		76,265		83,503

Earnings per share
Basic	$	0.95	$	0.62	$	1.08	$	0.82
Diluted	$	0.94	$	0.61	$	1.06	$	0.81

Effects of potentially dilutive securities are presented only in periods in which they are dilutive. For each of the three and six months ended July 4, 2026, outstanding stock-based awards representing 0.8 million shares of common stock were excluded from the calculation of diluted earnings per share because their effect would be anti-dilutive. For the three and six months ended June 28, 2025, outstanding stock-based awards representing 1.8 million and 1.4 million shares, respectively, of common stock were excluded from the calculation of diluted earnings per share because their effect would be anti-dilutive.