Earnings (Loss) Per Share

9 Months Ended

Oct. 02, 2021

Earnings (Loss) Per Share

Earnings (Loss) Per Share

3. Earnings (Loss) Per Share

The following table sets forth the computation of basic and diluted loss per share from continuing operations (in thousands, except per share data):

	Three Months Ended				Nine Months Ended
	October 2,		October 3,		October 2,		October 3,
	2021		2020		2021		2020
Loss from continuing operations	$	(19,740)	$	(26,702)	$	(63,387)	$	(94,138)
Shares used in computing basic loss per share		43,385		43,815		44,103		43,737
Effect of dilutive securities:
Stock-based awards and convertible debt		—		—		—		—
Shares used in computing diluted loss per share		43,385		43,815		44,103		43,737
Loss per share:
Basic	$	(0.45)	$	(0.61)	$	(1.44)	$	(2.15)
Diluted	$	(0.45)	$	(0.61)	$	(1.44)	$	(2.15)

Diluted shares for the three months ended October 2, 2021 and October 3, 2020 and the nine months ended October 2, 2021 and October 3, 2020 excluded 1.2 million, 0.5 million, 1.3 million and 0.5 million shares, respectively, due to the Company’s loss from continuing operations for the periods.

The Company intends to settle the principal amount of its convertible senior notes in cash and any excess value in shares in the event of a conversion. Accordingly, shares issuable upon conversion of the principal amount using the treasury stock method have been excluded from the calculation of diluted earnings per share. If the market value of the notes under certain prescribed conditions exceeds the conversion amount, the excess is included in the denominator for the computation of diluted earnings per share using the treasury stock method. For the three months ended October 2, 2021 and October 3, 2020 and the nine months ended October 2, 2021 and October 3, 2020, approximately 0.7 million, 0.1 million, 0.8 million and 0.2 million shares, respectively, were included in the denominator for the calculation of diluted earnings per share from net income and discontinued operations. See Note 8, Debt, to the Condensed Consolidated Financial Statements for additional information.