Earnings (Loss) Per Share

6 Months Ended

Jul. 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				Six Months Ended
	July 2,		July 3,		July 2,		July 3,
	2022		2021		2022		2021
Income (loss) from continuing operations	$	22,135	$	(18,491)	$	45,042	$	(43,647)
Shares used in computing basic income (loss) per share		35,722		44,803		36,862		44,481
Effect of dilutive securities:
Convertible debt and stock-based awards		882		—		1,201		—
Shares used in computing diluted income (loss) per share		36,604		44,803		38,063		44,481
Income (loss) per share:
Basic	$	0.62	$	(0.41)	$	1.22	$	(0.98)
Diluted	$	0.60	$	(0.41)	$	1.18	$	(0.98)

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 July 2, 2022 and July 3, 2021 and the six months ended July 2, 2022 and July 3, 2021, approximately 0.6 million, 0.5 million, 0.8 million and 0.8 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.