Earnings Per Common Share

9 Months Ended

Oct. 01, 2022

The reconciliation of the numerator and denominator used for the computation of basic and diluted earnings per common share is as follows (in thousands, except per share data):


	Predecessor
	Period from July 3, 2022 through July 24, 2022		Period from July 4, 2021 through October 2, 2021		Period from January 1, 2022 through July 24, 2022		Period from January 1, 2021 through October 2, 2021
Numerator for Basic and Diluted Earnings Per Common Share
Net income (loss) available to common shareholders	$	1,433	$	612,155	$	480,211	$	619,970
Denominator for Basic and Diluted Earnings Per Common Share
Weighted average basic number of common shares outstanding	127,544		126,159		127,316		125,840
Common stock equivalents:
Employee stock options	1,583		920		1,578		762

Weighted average diluted number of common shares outstanding	129,127		127,079		128,894		126,602

Basic income (loss) per common share	$	0.01	$	4.85	$	3.77	$	4.93
Diluted income (loss) per common share	$	0.01	$	4.82	$	3.73	$	4.90

Incentive plan securities excluded from dilution(1)	—		160		30		176

(1)Represents securities not included in the computation of diluted earnings per common share because their effect would have been anti-dilutive.

Earnings per common share is not presented for the Successor period as the Company’s common stock is no longer publicly traded either on a stock exchange or in the over-the-counter market.