v3.23.3
EARNINGS PER SHARE (Tables)
9 Months Ended
Oct. 01, 2023
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings Per Share
Three Months Ended
October 1, 2023October 2, 2022
Common StockClass B Common StockCommon StockClass B Common Stock
Basic earnings per share:
Numerator:
Allocation of distributed earnings (cash dividends paid)$178,573 $59,146 $152,262 $54,743 
Allocation of undistributed earnings211,085 69,773 141,630 50,852 
Total earnings—basic$389,658 $128,919 $293,892 $105,595 
Denominator (shares in thousands):
Total weighted-average shares—basic150,116 54,614 147,169 58,114 
Earnings Per Share—basic$2.60 $2.36 $2.00 $1.82 
Diluted earnings per share:
Numerator:
Allocation of total earnings used in basic computation$389,658 $128,919 $293,892 $105,595 
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock128,919 — 105,595 — 
Reallocation of undistributed earnings— (264)— (251)
Total earnings—diluted$518,577 $128,655 $399,487 $105,344 
Denominator (shares in thousands):
Number of shares used in basic computation150,116 54,614 147,169 58,114 
Weighted-average effect of dilutive securities:
Conversion of Class B common stock to Common shares outstanding54,614 — 58,114 — 
Employee stock options400 — 561 — 
Performance and restricted stock units358 — 430 — 
Total weighted-average shares—diluted205,488 54,614 206,274 58,114 
Earnings Per Share—diluted$2.52 $2.36 $1.94 $1.81 
Nine Months Ended
October 1, 2023October 2, 2022
Common StockClass B Common StockCommon StockClass B Common Stock
Basic earnings per share:
Numerator:
Allocation of distributed earnings (cash dividends paid)$484,517 $166,749 $415,599 $152,390 
Allocation of undistributed earnings644,062 217,417 498,070 182,462 
Total earnings—basic$1,128,579 $384,166 $913,669 $334,852 
Denominator (shares in thousands):
Total weighted-average shares—basic149,307 55,447 146,557 59,058 
Earnings Per Share—basic$7.56 $6.93 $6.23 $5.67 
Diluted earnings per share:
Numerator:
Allocation of total earnings used in basic computation$1,128,579 $384,166 $913,669 $334,852 
Reallocation of total earnings as a result of conversion of Class B common stock to Common stock384,166 — 334,852 — 
Reallocation of undistributed earnings— (931)— (954)
Total earnings—diluted$1,512,745 $383,235 $1,248,521 $333,898 
Denominator (shares in thousands):
Number of shares used in basic computation149,307 55,447 146,557 59,058 
Weighted-average effect of dilutive securities:
Conversion of Class B common stock to Common shares outstanding55,447 — 59,058 — 
Employee stock options457 — 582 — 
Performance and restricted stock units402 — 470 — 
Total weighted-average shares—diluted205,613 55,447 206,667 59,058 
Earnings Per Share—diluted$7.36 $6.91 $6.04 $5.65