Income per Share

9 Months Ended

Sep. 29, 2013

Earnings Per Share [Abstract]

Income per Share

Note 4: Income per Share

The following table presents the basis for the income (loss) per share computations:

	Three Months Ended					Nine Months Ended
	September 29, 2013		September 30, 2012			September 29, 2013		September 30, 2012
	(In thousands)
Numerator:
Income (loss) from continuing operations	$	29,068	$	(55,686	)	$	80,805	$	3,758
Gain from disposal of discontinued operations, net of tax		—		9,783			—		9,783
Income from discontinued operations, net of tax		—		7,125			—		14,346
Net income (loss)	$	29,068	$	(38,778	)	$	80,805	$	27,887
Denominator:
Weighted average shares outstanding, basic		43,694		44,787			44,013		45,410
Effect of dilutive common stock equivalents		843		—			903		839
Weighted average shares outstanding, diluted		44,537		44,787			44,916		46,249

For both the three and nine months ended September 29, 2013, diluted weighted average shares outstanding do not include outstanding equity awards of 0.3 million, because to do so would have been anti-dilutive. For the three and nine months ended September 30, 2012, diluted weighted average shares outstanding do not include outstanding equity awards of 1.8 million and 1.0 million, respectively, because to do so would have been anti-dilutive.

For purposes of calculating basic earnings per share, unvested restricted stock units are not included in the calculation of basic weighted average shares outstanding until all necessary conditions have been satisfied and issuance of the shares underlying the restricted stock units is no longer contingent. Necessary conditions are not satisfied until the vesting date, at which time holders of our restricted stock units receive shares of our common stock.

For purposes of calculating diluted earnings per share, unvested restricted stock units are included to the extent that they are dilutive. In determining whether unvested restricted stock units are dilutive, each issuance of restricted stock units is considered separately.

Once a restricted stock unit has vested, it is included in the calculation of both basic and diluted weighted average shares outstanding.