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Earnings/(Loss) Per Share
9 Months Ended
Sep. 25, 2011
Earnings Per Share [Abstract] 
Earnings Per Share
EARNINGS/(LOSS) PER SHARE

Basic and diluted earnings/(loss) per share have been computed as follows:
 
 
For the Quarters Ended
 
For the Nine Months Ended
(In thousands, except per share data)
 
September 25,
2011
 
September 26,
2010
 
September 25,
2011
 
September 26,
2010
Amounts attributable to The New York Times Company common stockholders:
 
 
 
 
 
 
 
 
Income/(loss) from continuing operations
 
$
15,685

 
$
(4,037
)
 
$
(98,614
)
 
$
40,552

(Loss)/income from discontinued operations, net of income taxes
 
—

 
(224
)
 
—

 
13

Net income/(loss)
 
$
15,685

 
$
(4,261
)
 
$
(98,614
)
 
$
40,565

Average number of common shares outstanding–Basic
 
147,355

 
145,803

 
147,103

 
145,533

Incremental shares for assumed exercise of securities
 
3,938

 
—

 
—

 
7,559

Average number of common shares outstanding–Diluted
 
151,293

 
145,803

 
147,103

 
153,092

Basic earnings/(loss) per share attributable to The New York Times Company common stockholders:
 
 
 
 
 
 
 
 
Income/(loss) from continuing operations
 
$
0.11

 
$
(0.03
)
 
$
(0.67
)
 
$
0.28

(Loss)/income from discontinued operations, net of income taxes
 
—

 
—

 
—

 
—

Net income/(loss)–Basic
 
$
0.11

 
$
(0.03
)
 
$
(0.67
)
 
$
0.28

Diluted earnings/(loss) per share attributable to The New York Times Company common stockholders:
 
 
 
 
 
 
 
 
Income/(loss) from continuing operations
 
$
0.10

 
$
(0.03
)
 
$
(0.67
)
 
$
0.26

Loss/(income) from discontinued operations, net of income taxes
 
—

 
—

 
—

 
—

Net income/(loss)–Diluted
 
$
0.10

 
$
(0.03
)
 
$
(0.67
)
 
$
0.26



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 would have 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 were approximately 20 million and 22 million in the third quarter and for the first nine months of 2011 and approximately 26 million and 25 million in the third quarter and for the first nine months of 2010.

A total of 15.9 million warrants were excluded from the computation of diluted earnings per share for the first nine months of 2011 and third quarter of 2010 because they were anti-dilutive.