Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2019

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

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


	Three Months Ended				Six Months Ended
	June 30,		July 1,		June 30,		July 1,
	2019		2018		2019		2018

Basic earnings per common share:
Net income attributable to the Company	$	8,354	$	11,199	$	6,623	$	28,642
Preferred stock dividends and accretion		(3,486)		—		(5,556)		—
Net income attributable to participating securities		—		(72)		—		(147)
Net income attributable to common shareholders	$	4,868	$	11,127	$	1,067	$	28,495

Basic weighted average common shares outstanding		31,587		31,941		31,570		32,610
Basic earnings per common share	$	0.15	$	0.35	$	0.03	$	0.87

Diluted earnings per common share:
Net income attributable to common shareholders	$	4,868	$	11,127	$	1,067	$	28,495

Weighted average common shares outstanding		31,587		31,941		31,570		32,610
Dilutive effect of outstanding equity awards (a)		186		234		176		250
Diluted weighted average common shares outstanding (b)		31,773		32,175		31,746		32,860
Diluted earnings per common share	$	0.15	$	0.35	$	0.03	$	0.87

(a)	Excludes 1,561 and 1,469 equity awards for the three and six months ended June 30, 2019, respectively, and 1,257 and 1,143 equity awards for the three and six months ended July 1, 2018, respectively, as the effect of including such awards would have been anti-dilutive.

(b)

The Company had 252,530 shares of Series B Preferred Stock outstanding as of June 30, 2019. For the fully diluted calculation, the Series B Preferred stock dividends were added back to net 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.