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8. |
NET INCOME PER COMMON SHARE |
Net income per common share calculated for the second quarter and six months of 2022 and 2021 is as follows:
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Second Quarter Ended |
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Six Months Ended |
(thousands except per share data) |
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June 26, 2022 |
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June 27, 2021 |
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June 26, 2022 |
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June 27, 2021 |
Numerator: |
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Net income for basic per share calculation |
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$ |
116,524
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$ |
58,985 |
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$ |
229,197
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$ |
106,498 |
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Effect of interest on potentially dilutive convertible notes, net of tax |
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481
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— |
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939
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— |
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Net income for dilutive per share calculation |
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$ |
117,005
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$ |
58,985 |
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$ |
230,136
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$ |
106,498 |
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Denominator: |
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Weighted average common shares outstanding - basic |
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22,230 |
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22,948 |
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22,369 |
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22,844 |
Weighted average impact of potentially dilutive convertible notes |
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2,052 |
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— |
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2,047 |
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— |
Weighted average impact of potentially dilutive securities |
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162 |
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487 |
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239 |
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516 |
Weighted average common shares outstanding - diluted |
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24,444 |
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23,435 |
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24,655 |
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23,360 |
Net income per common share: |
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Basic net income per common share |
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$ |
5.24
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$ |
2.57 |
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$ |
10.25
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$ |
4.66 |
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Diluted net income per common share |
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$ |
4.79
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$ |
2.52 |
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$ |
9.33
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$ |
4.56 |
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An immaterial amount of securities was not included in the computation of diluted income per share as they are considered anti-dilutive under the treasury stock method for all periods presented.
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