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Earnings/(Loss) Per Share
 9 Months Ended
Sep. 23, 2012
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 23,
2012
 
September 25,
2011
 
September 23,
2012
 
September 25,
2011
Amounts attributable to The New York Times Company common stockholders:
 
 
 
 
 
 
 
 
(Loss)/income from continuing operations
 
$
(3,744
)
 
$
6,611

 
$
42,535

 
$
826

Income/(loss) from discontinued operations, net of income taxes
 
6,026

 
9,074

 
(86,272
)
 
(99,440
)
Net income/(loss)
 
$
2,282

 
$
15,685

 
$
(43,737
)
 
$
(98,614
)
Average number of common shares outstanding–Basic
 
148,254

 
147,355

 
148,042

 
147,103

Incremental shares for assumed exercise of securities
 
—

 
3,938

 
3,720

 
5,321

Average number of common shares outstanding–Diluted
 
148,254

 
151,293

 
151,762

 
152,424

Basic (loss)/earnings per share attributable to The New York Times Company common stockholders:
 
 
 
 
 
 
 
 
(Loss)/income from continuing operations
 
$
(0.02
)
 
$
0.05

 
$
0.29

 
$
0.01

Income/(loss) from discontinued operations, net of income taxes
 
0.04

 
0.06

 
(0.59
)
 
(0.68
)
Net income/(loss)–Basic
 
$
0.02

 
$
0.11

 
$
(0.30
)
 
$
(0.67
)
Diluted (loss)/earnings per share attributable to The New York Times Company common stockholders:
 
 
 
 
 
 
 
 
(Loss)/income from continuing operations
 
$
(0.02
)
 
$
0.04

 
$
0.28

 
$
0.01

Income/(loss) from discontinued operations, net of income taxes
 
0.04

 
0.06

 
(0.57
)
 
(0.66
)
Net income/(loss)–Diluted
 
$
0.02

 
$
0.10

 
$
(0.29
)
 
$
(0.65
)


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, 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 18 million in the third quarter of 2012, approximately 16 million in the first nine months of 2012 and approximately 20 million in the third quarter and first nine months of 2011.

A total of 15.9 million warrants were excluded from the computation of diluted earnings per share in the third quarter of 2012 because they were anti-dilutive.