Net Income/(Loss) Per Share (Tables)

9 Months Ended

Sep. 28, 2021

Net Income/(Loss) Per Share

Schedule of basic and diluted net income per share

	Thirteen		Thirteen		Thirty-Nine		Thirty-Nine
	Weeks Ended		Weeks Ended		Weeks Ended		Weeks Ended
	September 28, 2021		September 29, 2020		September 28, 2021		September 29, 2020
	(In thousands, except per share data)
Basic net income/(loss) per common share:
Net income/(loss)	$	32,680	$	(28,346)	$	70,263	$	(221,048)
Dividends on Series A preferred stock		—		(4,838)		(18,661)		(8,532)
Direct and incremental preferred stock issuance costs		—		—		—		(10,257)
Undistributed earnings allocated to Series A preferred stock		—		—		(5,804)		—
Net income/(loss) available to common stockholders		32,680		(33,184)		45,798		(239,837)
Basic weighted-average shares outstanding		50,212		43,900		46,624		43,849
Basic net income/(loss) per common share	$	0.65	$	(0.76)	$	0.98	$	(5.47)
Diluted net income/(loss) per common share:
Net income/(loss) available to common stockholders	$	32,680	$	(33,184)	$	45,798	$	(239,837)
Reallocation of undistributed earnings to Series A preferred stock		—		—		114		—
Net income/(loss) available to common stockholders for diluted EPS		32,680		(33,184)		45,912		(239,837)
Basic weighted-average shares outstanding		50,212		43,900		46,624		43,849
Dilutive effect of equity awards (1)		901		—		1,051		—
Diluted weighted-average shares outstanding		51,113		43,900		47,675		43,849
Diluted net income/(loss) per common share	$	0.64	$	(0.76)	$	0.96	$	(5.47)

(1) Shares of common stock equivalents related to outstanding stock options and restricted stock of 3.8 million and 4.0 million as of September 28, 2021 and September 29, 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.