(Loss) Earnings Per Share (Tables)

6 Months Ended

Jun. 27, 2021

(Loss) Earnings Per Share

Schedule of (Loss) Earnings 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				Six Months Ended
	June 27,		June 28,		June 27,		June 28,
	2021		2020		2021		2020
Basic (loss) earnings per common share
Net income attributable to the Company	$	32,254	$	20,614	$	66,137	$	29,057
Dividends on redemption of Series B Convertible Preferred Stock		(109,852)		—		(109,852)		—
Dividends paid to participating securities		(2,300)		(3,347)		(5,827)		(6,818)
Net income attributable to participating securities		—		(1,560)		—		(1,306)
Net (loss) income attributable to common shareholders	$	(79,898)	$	15,707	$	(49,542)	$	20,933
Basic weighted average common shares outstanding		34,729		32,335		33,739		32,214
Basic (loss) earnings per common share	$	(2.30)	$	0.49	$	(1.47)	$	0.65
Diluted (loss) earnings per common share
Net (loss) income attributable to common shareholders	$	(79,898)	$	15,707	$	(49,542)	$	20,933
Weighted average common shares outstanding		34,729		32,335		33,739		32,214
Dilutive effect of outstanding equity awards (a)		—		284		—		230
Diluted weighted average common shares outstanding (b)		34,729		32,619		33,739		32,444
Diluted (loss) earnings per common share	$	(2.30)	$	0.48	$	(1.47)	$	0.65

(a) Excludes 145 and 170 equity awards for the three and six months ended June 28, 2020, respectively, as the effect of including such awards would have been anti-dilutive.

(b) The Company had 252.5 shares of Series B Preferred Stock outstanding at June 28, 2020 (none at June 27, 2021). For the fully diluted calculation, the Series B Preferred stock dividends were added back to net income attributable to common shareholders.  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 for June 28, 2020.  This calculation was anti-dilutive for the June 29, 2020 period and as such was excluded.