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Common Shares and Net Income (Loss) per Common Share
 3 Months Ended
Apr. 01, 2023
Earnings Per Share [Abstract]  
Common Shares and Net Income (Loss) per Common Share Common Shares and Net Income (Loss) per Common Share
Common Shares
On August 9, 2022, our Board of Directors approved a share repurchase program for up to $100.0 million of our outstanding common shares over a 12-month period commencing on August 15, 2022. For the three months ended April 1, 2023, we repurchased 1,112,514 common shares for approximately $16.6 million through open market transactions under the repurchase plan.
On May 4, 2021, our Board of Directors approved a share repurchase program for up to $50.0 million of our outstanding common shares over a 12-month period, which expired on May 10, 2022. There were no shares repurchased under the plan during the three months ended April 2, 2022.
Shares purchased under these repurchase plans were subsequently canceled.
Net Income (Loss) per Common Share
Basic net income (loss) per common share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the periods presented. Diluted net income (loss) per common share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding adjusted to include the effect, if dilutive, of the exercise of in-the-money stock options, performance-based RSUs, and time-based RSUs during the periods presented. The components of weighted average basic and diluted shares outstanding are below:

 For the Three Months Ended
 (in thousands)April 1, 2023April 2, 2022
Weighted average common shares outstanding - basic159,726 160,928 
Dilutive effect of Stock Options367 — 
Dilutive effect of Performance-based RSUs205 — 
Dilutive effect of Time-based RSUs483 — 
Weighted average common shares outstanding - diluted160,781 160,928 
The following table summarizes anti-dilutive securities excluded from the computation of diluted net income (loss) per common share for the periods indicated:

 For the Three Months Ended
(in thousands)April 1, 2023April 2, 2022
Stock Options1,396 4,715 
Performance-based RSUs 1
1,230 1,201 
Time-based RSUs 2
— 887 
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1     Performance-based RSUs represent the number of shares expected to be issued based primarily on the estimated achievement of performance targets for these awards.
2     Time-based RSUs represent the number of shares expected to be issued based on known employee retention information.