Annual report [Section 13 and 15(d), not S-K Item 405]

EARNINGS PER SHARE

v3.25.4
EARNINGS PER SHARE
 12 Months Ended
Jan. 03, 2026
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
The calculations of basic and diluted earnings per share ("EPS") are based on net income divided by the basic weighted average number of common shares and diluted weighted average number of common shares outstanding, respectively.
The following table presents the calculations of basic and diluted EPS:
Year Ended December
(In thousands, except per share amounts) 2025 2024 2023
Net income $ 227,452  $ 245,802  $ 230,994 
Basic weighted average shares outstanding 55,500  55,549  55,961 
Dilutive effect of stock-based awards 608  772  970 
Diluted weighted average shares outstanding 56,108  56,321  56,931 
Earnings per share:
Basic earnings per share $ 4.10  $ 4.42  $ 4.13 
Diluted earnings per share $ 4.05  $ 4.36  $ 4.06 
For the years ended December 2025, December 2024 and December 2023, an immaterial number of shares were excluded from the dilutive earnings per share calculations because the effect of their inclusion would have been anti-dilutive.
For the years ended December 2025, December 2024 and December 2023, a total of 0.5 million, 0.6 million and 0.6 million shares of PRSUs, respectively, were excluded from the calculations of diluted earnings per share as the units were not considered to be contingent outstanding shares.