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Common Stock and Earnings (Loss) Per Share
 12 Months Ended
Dec. 26, 2020
Earnings Per Share, Basic and Diluted [Abstract]  
Common Stock and Earnings (Loss) Per Share COMMON STOCK AND EARNINGS (LOSS) PER SHARE
Common & Preferred Stock

The Company's charter authorizes 80,000,000 shares of Common Stock with a $3 par value per share and 16,000,000 shares of Class B Common Stock with a $3 par value per share. Holders of Class B Common Stock have the right to twenty votes per share on matters that are submitted to Shareholders for approval and to dividends in an amount not greater than dividends declared and paid on Common Stock. Class B Common Stock is restricted as to transferability and may be converted into Common Stock on a one share for one share basis. The Company's charter also authorizes 200,000,000 shares of Class C Common Stock, $3 par value per share, and 16,000,000 shares of Preferred Stock. No shares of Class C Common Stock or Preferred Stock have been issued.

Earnings (Loss) Per Share

The Company's unvested stock awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, are considered participating securities and are included in the computation of earnings per share. The accounting guidance requires additional disclosure of EPS for common stock and unvested share-based payment awards, separately disclosing distributed and undistributed earnings. Undistributed earnings represent earnings that were available for distribution but were not distributed. Common stock and unvested share-based payment awards earn dividends equally. All earnings were undistributed in all periods presented.
The following table sets forth the computation of basic and diluted earnings (loss) per share from continuing operations:
 202020192018
Basic earnings (loss) per share:
Income (loss) from continuing operations$(9,088)$15,619 $(21,479)
Less: Allocation of earnings to participating securities— (468)— 
Income (loss) from continuing operations available to common shareholders - basic$(9,088)$15,151 $(21,479)
Basic weighted-average shares outstanding (1)15,316 15,822 15,764 
Basic earnings (loss) per share - continuing operations$(0.59)$0.96 $(1.36)
Diluted earnings (loss) per share:
Income (loss) from continuing operations available to common shareholders - basic$(9,088)$15,151 $(21,479)
Add: Undistributed earnings reallocated to unvested shareholders— 3 — 
Income (loss) from continuing operations available to common shareholders - basic$(9,088)$15,154 $(21,479)
Basic weighted-average shares outstanding (1)15,316 15,822 15,764 
Effect of dilutive securities: 
Stock options (2)— — — 
Directors' stock performance units (2)— 104 — 
Diluted weighted-average shares outstanding (1)(2)15,316 15,926 15,764 
Diluted earnings (loss) per share - continuing operations$(0.59)$0.95 $(1.36)

(1)Includes Common and Class B Common shares, excluding 360, 461, and 570 unvested participating securities, in thousands, for 2020, 2019, and 2018, respectively.
(2)Shares issuable under stock option plans where the exercise price is greater than the average market price of the Company's Common Stock during the relevant period and directors' stock performance units have been excluded to the extent they are anti-dilutive. Aggregate shares excluded were 281 in 2020, 166 in 2019 and 422 in 2018.