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Earnings/(Loss) Per Share
 12 Months Ended
Dec. 25, 2011
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings/(Loss) Per Share
Basic and diluted earnings/(loss) per share were as follows:
(In thousands, except per share data)
 
December 25,
2011

 
December 26,
2010

 
December 27,
2009

Amounts attributable to The New York Times Company common stockholders:
 
 
 
 
 
 
(Loss)/income from continuing operations
 
$
(39,669
)
 
$
107,691

 
$
1,559

Income from discontinued operations, net of income taxes
 
—

 
13

 
18,332

Net (loss)/income
 
$
(39,669
)
 
$
107,704

 
$
19,891

Average number of common shares outstanding – Basic
 
147,190

 
145,636

 
144,188

Incremental shares for assumed exercise of securities
 
—

 
6,964

 
2,179

Average number of common shares outstanding – Diluted
 
147,190

 
152,600

 
146,367

Basic (loss)/earnings per share attributable to The New York Times Company common stockholders:
 
 
 
 
 
 
(Loss)/income from continuing operations
 
$
(0.27
)
 
$
0.74

 
$
0.01

Income from discontinued operations, net of income taxes
 
0.00

 
0.00

 
0.13

Net (loss)/income – Basic
 
$
(0.27
)
 
$
0.74

 
$
0.14

Diluted (loss)/earnings per share attributable to The New York Times Company common stockholders:
 
 
 
 
 
 
(Loss)/income from continuing operations
 
$
(0.27
)
 
$
0.71

 
$
0.01

Income from discontinued operations, net of income taxes
 
0.00

 
0.00

 
0.13

Net (loss)/income – Diluted
 
$
(0.27
)
 
$
0.71

 
$
0.14


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 Class A Common Stock (“Common Stock”), because their inclusion would result 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 were approximately 22 million in 2011, 24 million in 2010 and 29 million in 2009, respectively.
A total of 15.9 million warrants were excluded from the computation of diluted earnings per share in 2011 because they were anti-dilutive.