Income per Share

3 Months Ended

Mar. 29, 2015

Earnings Per Share [Abstract]

Income per Share

Note 4: Income per Share

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

	Three Months Ended
	March 29, 2015		March 30, 2014
	(In thousands)
Numerator:
Income (loss) from continuing operations	$	(19,636)	$	25,156
Loss from disposal of discontinued operations, net of tax		-		(562)
Net income (loss)	$	(19,636)	$	24,594
Denominator:
Weighted average shares outstanding, basic		42,535		43,514
Effect of dilutive common stock equivalents		-		779
Weighted average shares outstanding, diluted		42,535		44,293

For the three months ended March 29, 2015 and March 30, 2014, diluted weighted average shares outstanding do not include outstanding equity awards of 0.9 million and 0.1 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.