Earnings (Loss) Per Share (Tables)

3 Months Ended

Mar. 31, 2019

Earnings (Loss) Per Share

Schedule of Earnings (Loss) Per Share, Basic and Diluted

The calculations of basic and diluted (loss) earnings per common share are as follows (in thousands, except per-share data):

	Three Months Ended
	March 31,		April 1,
	2019		2018
Basic (loss) earnings per common share:
Net (loss) income attributable to the Company	$	(1,731)	$	17,443
Preferred stock dividends		(2,070)		—
Net income (loss) attributable to participating securities		—		(75)
Net (loss) income attributable to common shareholders	$	(3,801)	$	17,368
Weighted average common shares outstanding		31,554		33,279
Basic (loss) earnings per common share	$	(0.12)	$	0.52
Diluted (loss) earnings per common share:
Net (loss) income attributable to common shareholders	$	(3,801)	$	17,368
Weighted average common shares outstanding		31,554		33,279
Dilutive effect of outstanding equity awards (a)		—		273
Diluted weighted average common shares outstanding (b)		31,554		33,552
Diluted (loss) earnings per common share	$	(0.12)	$	0.52

(a) Excludes 790 equity awards for the three months ended April 1, 2018 as the effect of including such awards would have been anti-dilutive. 

In connection with the issuance of the Series B Preferred Stock as described in Note 8, the Company had 252,530 convertible preferred shares outstanding as of March 31, 2019.  For the fully diluted calculation, the Series B Preferred stock dividends were added back to net (loss) income attributable to common stockholders.  The Company then applied the if-converted method to calculate dilution on the Series B Preferred Stock, which resulted in 5.0 million additional common shares.  This calculation was anti-dilutive.