Net Income (Loss) Per Share (Tables)

6 Months Ended

Jul. 03, 2022

Earnings Per Share [Abstract]

Schedule of Income (Loss) Per Share

The following table presents the calculation of basic and diluted net income (loss) per share attributable to stockholders:

	Three Months Ended				Six Months Ended
(In thousands, except per share amounts)	July 3, 2022		July 4, 2021		July 3, 2022		July 4, 2021
Basic net (loss) income per share:
Numerator:
Net (loss) income attributable to stockholders - continuing operations	$	(42,496)	$	87,094	$	(44,662)	$	39,947
Net (loss) income attributable to stockholders - discontinued operations	(20,616)		(11,887)		(46,321)		(13,125)
Net (loss) income attributable to stockholders	$	(63,112)	$	75,207	$	(90,983)	$	26,822
Denominator:
Basic weighted-average common shares	173,951		172,640		173,664		171,920
Basic net (loss) income per share - continuing operations	$	(0.24)	$	0.50	$	(0.26)	$	0.23
Basic net (loss) income per share - discontinued operations	(0.12)		(0.07)		(0.27)		(0.08)
Basic net (loss) income per share	$	(0.36)	$	0.43	$	(0.53)	$	0.15
Diluted net (loss) income per share:
Numerator:
Net (loss) income available to stockholders - continuing operations	$	(42,496)	$	87,094	$	(44,662)	$	39,947
Add: Interest expense on 0.875% debentures due 2021, net of tax	—		67		—		168
Add: Interest expense on 4.00% debentures due 2023, net of tax	—		3,126		—		—
Net (loss) income available to common stockholders - continuing operations	(42,496)		90,287		(44,662)		40,115
Net (loss) income available to common stockholders - discontinued operations	$	(20,616)	$	(11,887)	$	(46,321)	$	(13,125)
Denominator:
Basic weighted-average common shares	173,951		172,640		173,664		171,920
Effect of dilutive securities:
Restricted stock units	—		3,084		—		3,299
0.875% debentures due 2021	—		1,571		—		1,575
4.00% debentures due 2023	—		17,068		—		—
Dilutive weighted-average common shares:	173,951		194,363		173,664		176,794
Dilutive net (loss) income per share - continuing operations	$	(0.24)	$	0.46	$	(0.26)	$	0.23
Dilutive net (loss) income per share - discontinued operations	(0.12)		(0.07)		(0.27)		(0.08)
Dilutive net (loss) income per share	$	(0.36)	$	0.39	$	(0.53)	$	0.15

Schedule of Outstanding Anti-dilutive Potential Common Stock Excluded from Income (Loss) Per Share

The following is a summary of outstanding anti-dilutive potential common stock that was excluded from diluted net income per share attributable to stockholders in the following periods:

	Three Months Ended		Six Months Ended
(In thousands)	July 3, 2022	July 4, 2021	July 3, 2022	July 4, 2021
Restricted stock units	3,433	1,070	3,465	1,070
4.00% debentures due 2023	17,068	—	17,068	17,068