Earnings (Loss) Per Share

3 Months Ended

Apr. 02, 2022

Earnings (Loss) Per Share

Earnings (Loss) Per Share

3. Earnings (Loss) Per Share

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

	Three Months Ended
	April 2,		April 3,
	2022		2021
Income (loss) from continuing operations	$	22,907	$	(25,156)
Shares used in computing basic income (loss) per share		38,003		44,160
Effect of dilutive securities:
Convertible debt and stock-based awards		1,520		—
Shares used in computing diluted income (loss) per share		39,523		44,160
Income (loss) per share:
Basic	$	0.60	$	(0.57)
Diluted	$	0.58	$	(0.57)

The Company has irrevocably elected to settle the principal amount of its convertible senior notes in cash and intends to settle any excess value in shares in the event of a conversion. For the three months ended April 2, 2022 and April 3, 2021, approximately 1.0 million and 1.1 million shares, respectively, were included in the denominator for the calculation of diluted earnings per share. See Note 7, Debt, to the Condensed Consolidated Financial Statements for additional information.