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| 7. |
EARNINGS PER COMMON SHARE |
Earnings per common share calculated for the first quarter of 2023 and 2022 is as follows:
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First Quarter Ended |
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| (thousands except per share data) |
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April 2, 2023 |
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March 27, 2022 |
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| Numerator: |
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| Earnings for basic earnings per common share calculation |
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$ |
30,173
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$ |
112,673 |
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| Effect of interest on potentially dilutive convertible notes, net of tax |
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162
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317 |
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| Earnings for diluted earnings per common share calculation |
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$ |
30,335
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$ |
112,990 |
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| Denominator: |
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| Weighted average common shares outstanding - basic |
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21,591 |
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22,517 |
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| Weighted average impact of potentially dilutive convertible notes |
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658 |
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2,046 |
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| Weighted average impact of potentially dilutive securities |
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263 |
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319 |
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| Weighted average common shares outstanding - diluted |
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22,512 |
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24,882 |
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| Earnings per common share: |
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| Basic earnings per common share |
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$ |
1.40
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$ |
5.00 |
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| Diluted earnings per common share |
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$ |
1.35
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$ |
4.54 |
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An immaterial amount of securities was not included in the computation of diluted earnings per common share as they are considered anti-dilutive under the treasury stock method for all periods presented.
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