Net (Loss) Income per Share (Tables)

3 Months Ended

Mar. 26, 2022

Earnings Per Share [Abstract]

Computation of (Loss) Earnings Per Share, Basic

The following table sets forth the computation of basic net (loss) income per share using the two-class method:

	Thirteen weeks ended
	March 26, 2022			March 27 2021
	(in thousands, except per share data)
Net (loss) income	$	(1,955	)	$	65,565
Allocation of net (loss) income for basic:
Class A Common Stock	$	(1,621	)	$	53,628
Class B Common Stock		(329	)		11,638
Unvested participating shares		(5	)		299
	$	(1,955	)	$	65,565
Weighted average number of shares for basic:
Class A Common Stock		10,200			10,037
Class B Common Stock*		2,068			2,178
Unvested participating shares		32			56
		12,300			12,271
Net (loss) income per share for basic:
Class A Common Stock	$	(0.16	)	$	5.34
Class B Common Stock	$	(0.16	)	$	5.34

*The reduction in Class B Common Stock resulted from the conversion to Class A Common stock during fiscal 2021.

Computations of Diluted Net (Loss) Income Per Share

The following table sets forth the computations of diluted net (loss) income per share, assuming the conversion of all Class B Common Stock into Class A Common Stock for the thirteen weeks ended March 26, 2022 and March 27, 2021:

	Thirteen weeks ended
	March 26, 2022								March 27, 2021
	Loss to Common Shareholders			Common Shares		EPS			Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported - basic	$	(1,621	)		10,200	$	(0.16	)	$	53,628		10,037	$	5.34
Add: effect of dilutive common    shares
Share-based awards		—			—					—		162
Class B Common Stock		(329	)		2,068					11,638		2,178
Net effect of unvested participating    shares		(5	)		32					299		80
Net (loss) income per common share -    diluted	$	(1,955	)		12,300	$	(0.16	)	$	65,565		12,457	$	5.26