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Earnings/(Loss) Per Share
 12 Months Ended
Dec. 29, 2013
Earnings Per Share [Abstract]  
Earnings/(Loss) Per Share
Earnings/(Loss) Per Share
Basic earnings/(loss) per share is calculated by dividing net earnings/(loss) available to common stockholders by the weighted-average common stock outstanding. Diluted earnings/(loss) per share is calculated similarly, except that it includes the dilutive effect of the assumed exercise of securities, including outstanding warrants and the effect of shares issuable under our Company’s stock-based incentive plans if such effect is dilutive.    
The two-class method is an earnings allocation method for computing earnings/(loss) per share when a company’s capital structure includes either two or more classes of common stock or common stock and participating securities. This method determines earnings/(loss) per share based on dividends declared on common stock and participating securities (i.e., distributed earnings), as well as participation rights of participating securities in any undistributed earnings.
Basic and diluted earnings/(loss) per share were as follows:
 
 
Years Ended
(In thousands, except per share data)
 
December 29,
2013

 
December 30,
2012

 
December 25,
2011

 
 
(52 weeks)
 
(53 weeks)
 
(52 weeks)
Amounts attributable to The New York Times Company common stockholders:
 
 
 
 
 
 
Income from continuing operations
 
$
57,156

 
$
163,774

 
$
45,151

Income/(loss) from discontinued operations, net of income taxes
 
7,949

 
(27,927
)
 
(82,799
)
Net income/(loss)
 
$
65,105

 
$
135,847

 
$
(37,648
)
Average number of common shares outstanding – Basic
 
149,755

 
148,147

 
147,190

Incremental shares for assumed exercise of securities
 
8,019

 
4,546

 
4,817

Average number of common shares outstanding – Diluted
 
157,774

 
152,693

 
152,007

Basic earnings/(loss) per share attributable to The New York Times Company common stockholders:
 
 
 
 
 
 
Income from continuing operations
 
$
0.38

 
$
1.11

 
$
0.31

Income/(loss) from discontinued operations, net of income taxes
 
0.05

 
(0.19
)
 
(0.57
)
Net income/(loss) – Basic
 
$
0.43

 
$
0.92

 
$
(0.26
)
Diluted earnings/(loss) per share attributable to The New York Times Company common stockholders:
 
 
 
 
 
 
Income from continuing operations
 
$
0.36

 
$
1.07

 
$
0.30

Income/(loss) from discontinued operations, net of income taxes
 
0.05

 
(0.18
)
 
(0.55
)
Net income/(loss) – Diluted
 
$
0.41

 
$
0.89

 
$
(0.25
)

The difference between basic and diluted shares is that diluted shares include the dilutive effect of the assumed exercise of outstanding securities. Our restricted stock units, 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 result in an anti-dilutive effect on per share amounts.
The number of stock options that was excluded from the computation of diluted earnings per share because they were anti-dilutive was approximately 10 million in 2013, 15 million in 2012 and 20 million in 2011, respectively.