Net Income/(Loss) Per Share (Tables)

6 Months Ended

Jun. 29, 2021

Net Income/(Loss) Per Share

Schedule of basic and diluted net income per share

	Thirteen		Thirteen		Twenty-Six		Twenty-Six
	Weeks Ended		Weeks Ended		Weeks Ended		Weeks Ended
	June 29, 2021		June 30, 2020		June 29, 2021		June 30, 2020
	(In thousands, except per share data)
Basic net income/(loss) per common share:
Net income/(loss)	$	33,715	$	(56,539)	$	37,583	$	(192,702)
Dividends on Series A preferred stock		(13,591)		(3,694)		(18,661)		(3,694)
Direct and incremental preferred stock issuance costs		—		(10,257)		—		(10,257)
Undistributed earnings allocated to Series A preferred stock		(3,051)		—		(3,123)		—
Net income/(loss) available to common stockholders		17,073		(70,490)		15,799		(206,653)
Basic weighted-average shares outstanding		45,471		43,874		44,830		43,824
Basic net income/(loss) per common share	$	0.38	$	(1.61)	$	0.35	$	(4.72)
Diluted net income/(loss) per common share:
Net income/(loss) available to common stockholders		17,073		(70,490)		15,799		(206,653)
Reallocation of undistributed earnings to Series A preferred stock		73		—		65		—
Net income/(loss) available to common stockholders for diluted EPS		17,146		(70,490)		15,864		(206,653)
Basic weighted-average shares outstanding		45,471		43,874		44,830		43,824
Dilutive effect of equity awards (1)		1,306		—		1,145		—
Diluted weighted-average shares outstanding		46,777		43,874		45,975		43,824
Diluted net income/(loss) per common share	$	0.37	$	(1.61)	$	0.35	$	(4.72)

(1) Shares of common stock equivalents related to outstanding stock options and restricted stock of 0.9 million and 3.9 million as of June 29, 2021 and June 30, 2020, respectively, were excluded from the diluted calculation due to their anti-dilutive effect. No shares of common stock equivalents related to the Notes were included in the diluted calculation due to their anti-dilutive effect.