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Net (Loss) Income Per Common Share
 6 Months Ended
Jul. 01, 2017
Earnings Per Share [Abstract]  
Net (Loss) Income Per Common Share

Note 5—Net (Loss) Income Per Common Share

Basic net (loss) income per common share is calculated by dividing net (loss) income attributed to Cott Corporation by the weighted average number of common shares outstanding during the periods presented. Diluted net (loss) income per common share is calculated by dividing net (loss) income attributed to Cott Corporation 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. Set forth below is a reconciliation of the numerator and denominator for the diluted net (loss) income per common share computations for the periods indicated:

 

     For the Three Months Ended      For the Six Months Ended  

(in thousands)

    July 1, 2017      July 2, 2016      July 1, 2017      July 2, 2016  

Diluted net (loss) income attributed to Cott Corporation (numerator)

    $ (24.6 )     $ 7.4      $ (61.0 )     $ 4.6  
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average common shares outstanding—basic

      139,000        123,239        138,867        118,253  

Dilutive effect of Stock Options

      —          548        —          424  

Dilutive effect of Performance-based RSUs

      —          —          —          —    

Dilutive effect of Time-based RSUs

      —          393        —          361  
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average common shares outstanding—diluted (denominator)

      139,000        124,180        138,867        119,038  
  

 

 

     

 

 

     

 

 

     

 

 

  

The following table summarizes anti-dilutive securities excluded from the computation of diluted net (loss) income per common share for the periods indicated:

 

     For the Three Months Ended      For the Six Months Ended  

(in thousands)

    July 1, 2017      July 2, 2016      July 1, 2017      July 2, 2016  

Stock Options

      4,459        —          4,459        380  

Performance-based RSUs1

      1,862        1,995        1,862        1,995  

Time-based RSUs

      704        —          704        —    

 

1.  Performance-based RSUs represent the number of shares expected to be issued based primarily on the estimated achievement of cumulative pre-tax income targets for these awards.