Schedule of Basic Earnings Per Share |
The following table shows the calculation of basic and diluted earnings per share: | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended | | Nine months ended | | September 26, 2020 | | September 28, 2019 | | September 26, 2020 | | September 28, 2019 | Net income attributable to Summit Inc. | $ | 90,730 | | | $ | 55,757 | | | $ | 102,815 | | | $ | 23,395 | | | | | | | | | | Weighted average shares of Class A stock outstanding | | | | | | | | Add: Nonvested restricted stock awards of retirement eligible shares | 320,343 | | | — | | | 145,155 | | | — | | Add: Weighted average shares of Class A stock outstanding | 114,116,564 | | | 112,179,137 | | | 113,943,292 | | | 112,020,275 | | Weighted average basic shares outstanding | 114,436,907 | | | 112,179,137 | | | 114,088,447 | | | 112,020,275 | | Basic earnings per share | $ | 0.79 | | | $ | 0.50 | | | $ | 0.90 | | | $ | 0.21 | | | | | | | | | | Diluted net income attributable to Summit Inc. | $ | 90,730 | | | $ | 55,757 | | | $ | 102,815 | | | $ | 23,395 | | | | | | | | | | Weighted average shares of Class A stock outstanding | 114,116,564 | | | 112,179,137 | | | 113,943,292 | | | 112,020,275 | | Add: weighted average of LP Units | — | | | — | | | — | | | — | | Add: stock options | — | | | 2,788,221 | | | — | | | 216,165 | | Add: warrants | — | | | 100,037 | | | — | | | — | | Add: restricted stock units | 263,886 | | | 384,571 | | | 450,353 | | | 222,533 | | Add: performance stock units | 91,721 | | | 53,156 | | | 63,631 | | | 38,637 | | Weighted average dilutive shares outstanding | 114,472,171 | | | 115,505,122 | | | 114,457,276 | | | 112,497,610 | | Diluted earnings per share | $ | 0.79 | | | $ | 0.48 | | | $ | 0.90 | | | $ | 0.21 | |
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Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
Excluded from the above calculations were the shares noted below as they were antidilutive: | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended | | Nine months ended | | September 26, 2020 | | September 28, 2019 | | September 26, 2020 | | September 28, 2019 | Antidilutive shares: | | | | | | | | LP Units | 3,053,115 | | | 3,368,058 | | | 3,086,819 | | | 3,404,231 | | Time-vesting stock options | 2,095,929 | | | — | | | 2,095,929 | | | — | | Warrants | 100,037 | | | — | | | 100,037 | | | 100,037 | | | | | | | | | | | | | | | | | |
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