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Net Income (Loss) per Common Share
 9 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
Net Income (Loss) per Common Share

Note 7—Net Income (Loss) per Common Share

Basic net income (loss) per common share is calculated by dividing net income (loss) attributable to Cott Corporation 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) attributable 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 income (loss) per common share computations for the periods indicated:

 

     For the Three Months Ended      For the Nine Months Ended  
     September 30,
2017		      October 1,
2016		      September 30,
2017		      October 1,
2016		  

Numerator (in millions):

            

Net income (loss) attributable to Cott Corporation

            

Continuing operations

    $ 1.6      $ (4.0 )     $ (13.1 )     $ (5.6 ) 

Discontinued operations

      40.9        1.4        (5.4 )       7.6  
  

 

 

     

 

 

     

 

 

     

 

 

  

Net earnings

      42.5        (2.6 )       (18.5 )       2.0  
  

 

 

     

 

 

     

 

 

     

 

 

  

Basic Earnings Per Share

            

Denominator (in thousands):

            

Weighted average common shares outstanding - basic

      139,205        138,195        138,980        124,900  

Basic Earnings Per Share:

            

Continuing operations

      0.01        (0.03 )       (0.09 )       (0.04 ) 

Discontinued operations

      0.29        0.01        (0.04 )       0.06  
  

 

 

     

 

 

     

 

 

     

 

 

  

Net earnings

      0.30        (0.02 )       (0.13 )       0.02  
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted Earnings Per Share

            

Denominator (in thousands):

            

Weighted average common shares outstanding - basic

      139,205        138,195        138,980        124,900  

Dilutive effect of Stock Options

      1,158        —          —          —    

Dilutive effect of Performance based RSUs

      154        —          —          —    

Dilutive effect of Time-based RSUs

      486        —          —          —    
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average common shares outstanding - diluted

      141,003        138,195        138,980        124,900  

Diluted Earnings Per Share:

            

Continued operations

      0.01        (0.03 )       (0.09 )       (0.04 ) 

Discontinued operations

      0.29        0.01        (0.04 )       0.06  
  

 

 

     

 

 

     

 

 

     

 

 

  

Net earnings

      0.30        (0.02 )       (0.13 )       0.02  
  

 

 

     

 

 

     

 

 

     

 

 

  

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      For the Nine Months Ended  

(in thousands)

    September 30,
2017		      October 1,
2016		      September 30,
2017		      October 1,
2016		  

Stock Options

      198        2,846        4,286        2,846  

Performance-based RSUs 1

      —          1,574        1,703        1,574  

Time-based RSUs

      —          882        660        882  

 

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.