Reconciliation of the Numerator and Denominator in the Computations of the Basic and Diluted Earnings per Share |
The following table reconciles the numerator and denominator in the computations of basic and diluted earnings per share: | | | | | | | | | | | | | | Fiscal Year | | 2019 | | 2018 | | 2017 | | (in thousands) | Numerator: | | | | | | Income from continuing operations, net of income taxes | $ | 254,061 |
| | $ | 227,218 |
| | $ | 125,586 |
| Income (loss) from discontinued operations, net of income taxes | — |
| | 1,506 |
| | (137 | ) | Less: Net income attributable to noncontrolling interests | 2,042 |
| | 2,351 |
| | 2,094 |
| Net income attributable to common shareholders | $ | 252,019 |
| | $ | 226,373 |
| | $ | 123,355 |
| | | | | | | Denominator: | | | | | | Weighted-average shares outstanding—Basic | 48,730 |
| | 47,947 |
| | 47,481 |
| Effect of dilutive securities: | | | | | | Stock options, restricted stock, restricted stock units and performance share units | 963 |
| | 1,071 |
| | 1,083 |
| Weighted-average shares outstanding—Diluted | 49,693 |
| | 49,018 |
| | 48,564 |
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Changes to Each Component of Accumulated Other Comprehensive Income (Loss), Net of Income Taxes |
Changes to each component of accumulated other comprehensive income (loss), net of income taxes, are as follows: | | | | | | | | | | | | | | Foreign Currency Translation Adjustment and Other | | Pension and Other Post-Retirement Benefit Plans | | Total | | (in thousands) | December 30, 2017 | $ | (77,545 | ) | | $ | (67,186 | ) | | $ | (144,731 | ) | Other comprehensive loss before reclassifications (1) | (27,352 | ) | | (1,659 | ) | | (29,011 | ) | Amounts reclassified from accumulated other comprehensive income (loss) | — |
| | 2,477 |
| | 2,477 |
| Net current period other comprehensive (loss) income | (27,352 | ) | | 818 |
| | (26,534 | ) | Amount reclassified from accumulated other comprehensive loss due to the adoption of ASU 2018-02 | — |
| | 3,330 |
| | 3,330 |
| Income tax (benefit) expense | (2,698 | ) | | 806 |
| | (1,892 | ) | December 29, 2018 | (102,199 | ) | | (70,504 | ) | | (172,703 | ) | Other comprehensive income (loss) before reclassifications (1) | 14,444 |
| | (25,165 | ) | | (10,721 | ) | Amounts reclassified from accumulated other comprehensive income (loss) | — |
| | 1,772 |
| | 1,772 |
| Net current period other comprehensive income (loss) | 14,444 |
| | (23,393 | ) | | (8,949 | ) | Income tax (benefit) | (177 | ) | | (3,456 | ) | | (3,633 | ) | December 28, 2019 | $ | (87,578 | ) | | $ | (90,441 | ) | | $ | (178,019 | ) | (1) The impact of the foreign currency translation adjustment to other comprehensive income (loss) before reclassifications was primarily due to the effect of changes in foreign currency exchange rates of the Euro, British Pound, and Canadian Dollar and to a lesser extent due to the impact of changes in the Chinese Yuan Renminbi and Japanese Yen. |
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Rollforward of Redeemable Noncontrolling Interest |
The following table provides a rollforward of the activity related to the Company’s redeemable noncontrolling interests: | | | | | | | | | | Fiscal Year | | 2019 | | 2018 | | (in thousands) | Beginning balance | $ | 18,525 |
| | $ | 16,609 |
| Adjustment to Vital River redemption value | 1,451 |
| | 2,069 |
| Purchase of Vital River 5% equity interest | (8,745 | ) | | — |
| Change in fair value of Vital River 8% equity interest, included in additional paid-in capital | 2,708 |
| | — |
| Modification of Vital River 8% purchase option | 2,196 |
| | — |
| Acquisition of an approximate 10% non-controlling interest through acquiring Citoxlab | 4,035 |
| | — |
| Acquisition of a 20% non-controlling interest through acquiring a supplier | 8,740 |
| | — |
| Net (loss) income attributable to noncontrolling interests | (42 | ) | | 800 |
| Foreign currency translation | (221 | ) | | (953 | ) | Ending balance | $ | 28,647 |
| | $ | 18,525 |
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