Note 16 – Earnings Per Share

In accordance with U.S. GAAP, basic earnings per share is computed by dividing net (loss) income attributable to Superior, after adjusting for preferred dividends and European non-controlling redeemable equity translation and dividend, by the weighted average number of common shares outstanding. For purposes of calculating diluted earnings per share, net (loss) income attributable to Superior is divided by the total of the weighted average shares outstanding plus the dilutive effect of our redeemable preferred stock, outstanding stock options and time and performance based restricted stock units under the treasury stock method.


(Dollars and shares in thousands, except per share amounts)	Three Months Ended						Nine Months Ended
	Sept. 30, 2018			Oct. 1, 2017			Sept. 30, 2018			Oct. 1, 2017
Basic Earnings Per Share:
Reported net (loss) income attributable to Superior	$	(663	)	$	2,615		$	17,789		$	(1,554	)
Less: Redeemable preferred stock dividends and accretion		(8,295	)		(8,147	)		(24,499	)		(11,029	)
Less: European non-controlling redeemable equity dividend		(258	)		—			(1,342	)		—
Add: European non-controlling redeemable equity translation adjustment		31			—			2,882			—

Basic numerator	$	(9,185	)	$	(5,532	)	$	(5,170	)	$	(12,583	)

Basic loss per share	$	(0.37	)	$	(0.22	)	$	(0.21	)	$	(0.50	)

Weighted average shares outstanding-Basic		25,017			24,905			24,985			24,941

Diluted Earnings Per Share:
Reported net (loss) income attributable to Superior	$	(663	)	$	2,615		$	17,789		$	(1,554	)
Less: Redeemable preferred stock dividends and accretion		(8,295	)		(8,147	)		(24,499	)		(11,029	)
Less: European non-controlling redeemable equity dividend		(258	)		—			(1,342	)		—
Add: European non-controlling redeemable equity translation adjustment		31			—			2,882			—

Diluted numerator	$	(9,185	)	$	(5,532	)	$	(5,170	)	$	(12,583	)

Diluted loss per share	$	(0.37	)	$	(0.22	)	$	(0.21	)	$	(0.50	)

Weighted average shares outstanding-Basic		25,017			24,905			24,985			24,941
Weighted average dilutive stock options and restricted stock units		—			—			—			—

Weighted average shares outstanding-Diluted		25,017			24,905			24,985			24,941

For the first nine months of 2018, options to purchase 28,000 shares at prices ranging from $17.45 to $22.57 were excluded from the diluted earnings per share because they would have been anti-dilutive, as their exercise prices exceeded the average market prices for the period. The performance shares discussed in Note 19, “Stock-Based Compensation,” are not included in the diluted earnings per share because the performance metrics had not been met as of the period ended September 30, 2018. The redeemable preferred shares discussed in Note 14, “Redeemable Preferred Shares” are not included in the diluted earnings per share because the conversion would be anti-dilutive as of the period ended September 30, 2018.