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Earnings Per Share
 6 Months Ended
Jun. 26, 2011
Earnings Per Share [Abstract]  
Earnings Per Share
(LOSS)/EARNINGS PER SHARE


Basic and diluted (loss)/earnings per share have been computed as follows:
 
 
For the Quarters Ended
 
For the Six Months Ended
(In thousands, except per share data)
 
June 26,

2011
 
June 27,

2010
 
June 26,

2011
 
June 27,

2010
Amounts attributable to The New York Times Company common stockholders:
 
 
 
 
 
 
 
 
(Loss)/income from continuing operations
 
$
(119,718
)
 
$
31,796


 
$
(114,299
)
 
$
44,589


Income from discontinued operations, net of income taxes
 
—


 
237


 
—


 
237


Net (loss)/income
 
$
(119,718
)
 
$
32,033


 
$
(114,299
)
 
$
44,826


Average number of common shares outstanding–Basic
 
147,176


 
145,601


 
146,976


 
145,398


Incremental shares for assumed exercise of securities
 
—


 
7,361


 
—


 
8,457


Average number of common shares outstanding–Diluted
 
147,176


 
152,962


 
146,976


 
153,855


Basic (loss)/earnings per share attributable to The New York Times Company common stockholders:
 
 
 
 
 
 
 
 
(Loss)/income from continuing operations
 
$
(0.81
)
 
$
0.22


 
$
(0.78
)
 
$
0.31


Income from discontinued operations, net of income taxes
 
—


 
—


 
—


 
—


Net (loss)/income–Basic
 
$
(0.81
)
 
$
0.22


 
$
(0.78
)
 
$
0.31


Diluted (loss)/earnings per share attributable to The New York Times Company common stockholders:
 
 
 
 
 
 
 
 
(Loss)/income from continuing operations
 
$
(0.81
)
 
$
0.21


 
$
(0.78
)
 
$
0.29


Income from discontinued operations, net of income taxes
 
—


 
—


 
—


 
—


Net (loss)/income–Diluted
 
$
(0.81
)
 
$
0.21


 
$
(0.78
)
 
$
0.29






The difference between basic and diluted shares is that diluted shares include the dilutive effect of the assumed exercise of outstanding securities. Our stock options and warrants could have the most significant impact on diluted shares.


Securities that could potentially be dilutive are excluded from the computation of diluted earnings per share when a loss from continuing operations exists or when the exercise price exceeds the market value of our Common Stock, because their inclusion results in an anti-dilutive effect on per share amounts.


The number of stock options that were excluded from the computation of diluted earnings per share because they were anti-dilutive due to a loss from continuing operations were approximately 22 million in the second quarter and first six months of 2011. The number of stock options that were excluded from the computation of diluted earnings per share because their exercise price exceeded the market value of our Common Stock was approximately 25 million in the second quarter and first six months of 2010.