Net (Loss)/Income Per Share

3 Months Ended

Mar. 31, 2020

Net (Loss)/Income Per Share

Net (Loss)/Income Per Share

13. Net (Loss)/Income Per Share

Basic net income per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period, reduced by unvested restricted stock awards. As of March 31, 2020 and April 2, 2019, 2.1 million shares and 1.8 million shares, respectively, of restricted stock issued to staff members were unvested and, therefore, excluded from the calculation of basic earnings per share for the fiscal periods ended on those dates. Diluted net income per share includes the dilutive effect of outstanding equity awards, calculated using the treasury stock method. Shares of common stock equivalents of 3.8 million and 2.0 million as of March 31, 2020 and April 2, 2019, respectively, were excluded from the diluted calculation due to their anti-dilutive effect.

	Thirteen		Thirteen
	Weeks Ended		Weeks Ended
	March 31, 2020		April 2, 2019
	(In thousands, except per share data)
Net (loss)/income	$	(136,163)	$	26,984
Basic weighted average shares outstanding		43,773		44,255
Dilutive effect of equity awards		—		729
Diluted weighted average shares outstanding		43,773		44,984
Basic net (loss)/income per share	$	(3.11)	$	0.61
Diluted net (loss)/income per share	$	(3.11)	$	0.60