Earnings (Loss) Per Share (Tables)

3 Months Ended

Mar. 29, 2020

Earnings (Loss) Per Share

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

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

	Three Months Ended
	March 29,		March 31,
	2020		2019
Basic earnings (loss) per common share:
Net income (loss) attributable to the Company	$	8,443	$	(1,731)
Preferred stock dividends and accretion		(3,471)		(2,070)
Net income (loss) attributable to common shareholders	$	4,972	$	(3,801)
Basic weighted average common shares outstanding		32,093		31,554
Basic earnings (loss) per common share	$	0.15	$	(0.12)
Diluted earnings (loss) per common share:
Net income (loss) attributable to common shareholders	$	4,972	$	(3,801)
Weighted average common shares outstanding		32,093		31,554
Dilutive effect of outstanding equity awards (a)		227		—
Diluted weighted average common shares outstanding (b)		32,320		31,554
Diluted earnings (loss) per common share	$	0.15	$	(0.12)

(a) Excludes 382 equity awards for the three months ended March 29, 2020 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 March 29, 2020 and December 29, 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 for both periods presented.