| Computation of Earnings Per Share, Basic |
The following table sets forth the computation of basic net income per share using the two-class method:
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December 30, |
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December 31, |
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December 25, |
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2023 |
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2022 |
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2021 |
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(in thousands, except per share data) |
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Net Income |
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$ |
76,250 |
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$ |
67,263 |
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$ |
14,553 |
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Allocation of net income for basic: |
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Class A Common Stock |
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$ |
63,216 |
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$ |
55,812 |
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$ |
11,995 |
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Class B Common Stock |
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12,880 |
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11,293 |
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2,506 |
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Unvested participating shares |
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154 |
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|
158 |
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52 |
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$ |
76,250 |
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$ |
67,263 |
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$ |
14,553 |
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Weighted average number of shares for basic: |
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Class A Common Stock |
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10,150 |
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10,221 |
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10,121 |
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Class B Common Stock* |
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2,068 |
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2,068 |
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2,115 |
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Unvested participating shares |
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25 |
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28 |
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44 |
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12,243 |
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12,317 |
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12,280 |
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Net income per share for basic: |
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Class A Common Stock |
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$ |
6.23 |
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$ |
5.46 |
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$ |
1.19 |
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Class B Common Stock |
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$ |
6.23 |
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$ |
5.46 |
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$ |
1.19 |
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*Changes in Class B Common Stock resulted from the conversion to Class A Common stock during fiscal 2022 as disclosed in the Company's consolidated statements of stockholders' equity.
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| Computation of Earnings Per Share, Diluted |
The following tables set forth the computation of diluted net income per share, assuming the conversion of all Class B Common Stock into Class A Common Stock:
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Fiscal year ended December 30, 2023 |
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Earnings to
Common
Shareholders |
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Common
Shares |
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EPS |
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(in thousands, except per share data) |
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As reported - basic |
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$ |
63,216 |
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10,150 |
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$ |
6.23 |
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Add: effect of dilutive potential common shares |
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Share-based awards |
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— |
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40 |
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Class B Common Stock |
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12,880 |
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2,068 |
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Net effect of unvested participating shares |
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— |
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— |
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Net income per common share - diluted |
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$ |
76,096 |
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$ |
12,258 |
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$ |
6.21 |
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Fiscal year ended December 31, 2022 |
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Earnings to
Common
Shareholders |
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Common
Shares |
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EPS |
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(in thousands, except per share data) |
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As reported - basic |
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$ |
55,812 |
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10,221 |
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$ |
5.46 |
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Add: effect of dilutive potential common shares |
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Share-based awards |
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— |
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56 |
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Class B Common Stock |
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11,293 |
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|
2,068 |
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Net effect of unvested participating shares |
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1 |
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— |
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Net income per common share - diluted |
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$ |
67,106 |
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|
12,345 |
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$ |
5.44 |
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Fiscal year ended December 25, 2021 |
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Earnings to
Common
Shareholders |
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Common
Shares |
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EPS |
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(in thousands, except per share data) |
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As reported - basic |
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$ |
11,995 |
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10,121 |
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$ |
1.19 |
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Add: effect of dilutive potential common shares |
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Share-based awards |
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— |
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138 |
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Class B Common Stock |
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2,506 |
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2,115 |
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Net effect of unvested participating shares |
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52 |
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62 |
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Net income per common share - diluted |
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$ |
14,553 |
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12,436 |
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$ |
1.17 |
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