Earnings Per Share

6 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Basic earnings per share is calculated by dividing net earnings attributable to common shareholders by the weighted average shares outstanding during the period, without consideration for common stock equivalents. Diluted net earnings per share is calculated by adjusting weighted average shares outstanding for the dilutive effect of common share equivalents outstanding for the period, determined using the treasury-stock method. Common stock options, unvested Common Restricted Stock Units and unvested Common Performance Share Units are considered to be common stock equivalents included in the calculation of diluted net income per share.

The basic and diluted income per share calculations are presented below:

	Three Months Ended					Six Months Ended
(amounts in thousands, except share and per share amounts)	June 30, 2018			July 1, 2017		June 30, 2018			July 1, 2017
Earnings per share basic:
Income from continuing operations	$	35,452		$	45,705	$	74,985		$	51,652
Equity earnings of non-consolidated entities	—			1,073		738			1,554
Income from continuing operations and equity earnings of non-consolidated entities	35,452			46,778		75,723			53,206
Undeclared Series A Convertible Preferred Stock dividends	—			—		—			(10,462		)
Net income attributable to non-controlling interest	(59		)	—		(53		)	—
Net income attributable to common shareholders	$	35,511		$	46,778	$	75,776		$	42,744
Weighted average outstanding shares of common stock basic	105,620,267			104,794,294		105,881,966			89,544,882
Net income per share - basic	$	0.34		$	0.45	$	0.72		$	0.48

	Three Months Ended				Six Months Ended
(amounts in thousands, except share and per share amounts)	June 30, 2018		July 1, 2017		June 30, 2018		July 1, 2017
Earnings per share diluted:
Net income attributable to common shareholders - basic and diluted	$	35,511	$	46,778	$	75,776	$	42,744
Weighted average outstanding shares of common stock basic	105,620,267		104,794,294		105,881,966		89,544,882
Restricted stock units, performance share units and options to purchase common stock	2,032,742		4,291,835		2,382,583		4,188,768
Weighted average outstanding shares of common stock diluted	107,653,009		109,086,129		108,264,549		93,733,650
Net income per share - diluted	$	0.33	$	0.43	$	0.70	$	0.46

The following table provides the securities that could potentially dilute basic earnings per share in the future, but were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive:

	Three Months Ended		Six Months Ended
	June 30, 2018	July 1, 2017	June 30, 2018	July 1, 2017
Common stock options	877,015	623,570	595,813	636,099
Restricted stock units	111,536	—	25,648	—
Performance share units	118,215	—	—	—