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Earnings/(Loss) Per Share
 6 Months Ended
Jun. 28, 2015
Earnings Per Share [Abstract]  
Earnings/(Loss) Per Share
EARNINGS/(LOSS) PER SHARE
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 have been computed as follows:
 
 
For the Quarters Ended
 
For the Six Months Ended
(In thousands, except per share data)
 
June 28, 2015

 
June 29, 2014

 
June 28, 2015

 
June 29, 2014

Amounts attributable to The New York Times Company common stockholders:
 
 
 
 
 
 
 
 
Income from continuing operations
 
$
16,400

 
$
9,188

 
$
2,138

 
$
11,925

Loss from discontinued operations, net of income taxes
 
—

 
—

 
—

 
(994
)
Net income
 
$
16,400

 
$
9,188

 
$
2,138

 
$
10,931

Average number of common shares outstanding:
 
 
 
 
 
 
 
 
Basic
 
166,355

 
150,796

 
165,173

 
150,683

Diluted
 
168,316

 
161,868

 
167,491

 
161,962

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

 
$
0.06

 
$
0.01

 
$
0.08

Loss from discontinued operations, net of income taxes
 
0.00

 
0.00

 
0.00

 
(0.01
)
Net income
 
$
0.10

 
$
0.06

 
$
0.01

 
$
0.07

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

 
$
0.06

 
$
0.01

 
$
0.07

Loss from discontinued operations, net of income taxes
 
0.00

 
0.00

 
0.00

 
(0.01
)
Net income
 
$
0.10

 
$
0.06

 
$
0.01

 
$
0.06


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, stock-settled long-term performance awards and restricted stock units could have the most significant impact on diluted shares. The increase in our basic shares is due to the exercise of warrants in January 2015, partially offset by repurchases of the Company’s Class A Common Stock.
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 5 million in the second quarter and first six months of 2015 and approximately 6 million in the second quarter and first six months of 2014.