Net Income (Loss) per Share

9 Months Ended

Sep. 26, 2020

Earnings Per Share [Abstract]

Net Income (Loss) per Share [Text Block]

Net Income (Loss) per Share

The following table presents the computation of net income (loss) per share on a basic and diluted basis (shares in thousands):

	Quarter Ended				Nine Months Ended
	September 26, 2020		September 28, 2019		September 26, 2020		September 28, 2019
Net income (loss) attributable to shareholders	$	166,060	$	92,131	$	348,367	$	(316,100)
Weighted-average shares outstanding - basic	77,390		82,711		78,807		84,246
Net effect of various dilutive stock-based compensation awards	696		686		597		—
Weighted-average shares outstanding - diluted	78,086		83,397		79,404		84,246
Net income (loss) per share:
Basic	$	2.15	$	1.11	$	4.42	$	(3.75)
Diluted (a)	$	2.13	$	1.10	$	4.39	$	(3.75)

(a)Stock-based compensation awards for the issuance of 1,267 and 1,456 shares for the third quarter and first nine months of 2020, and 1,086 shares for the third quarter of 2019, respectively, were excluded from the computation of net income per share on a diluted basis as their effect was anti-dilutive. As the company reported a net loss attributable to shareholders for the first nine months of 2019, basic and diluted net loss per share attributable to shareholders are the same and stock-based compensation awards for the issuance of 1,886 shares were excluded from the computation of net loss per share on a diluted basis as their effect was anti-dilutive.