Net (Loss) Income Per Share

6 Months Ended

Jul. 02, 2022

15. NET (LOSS) INCOME PER SHARE

Basic net (loss) income per share is calculated by dividing net (loss) income by the weighted average number of shares of common stock outstanding for the period. Diluted net (loss) income per share is calculated by dividing net (loss) income by the diluted weighted average number of shares of common stock outstanding for the period. For purposes of this calculation, outstanding stock options are considered potential dilutive shares of common stock. The following is a computation of basic and diluted net (loss) income per share (amounts in thousands, except per share amounts):


	For the three-month periods ended					For the six-month periods ended
	July 2, 2022			July 3, 2021		July 2, 2022			July 3, 2021
Numerator:
Net (loss) income	$	(473,887	)	$	1,260	$	(448,553	)	$	7,058
Denominator:
Weighted average shares of common stock outstanding (1), basic		184,953			171,149		184,940			156,636
Net (loss) income per share, basic	$	(2.56	)	$	0.01	$	(2.43	)	$	0.05

Weighted average shares of common stock outstanding (1), diluted		184,953			177,683		184,940			161,975
Net (loss) income per share, diluted	$	(2.56	)	$	0.01	$	(2.43	)	$	0.04
Dilutive securities outstanding not included in the computation of diluted net (loss) income per share as their effect is antidilutive:
RSUs		4,472			-		4,472			-
PSUs		1,390			-		1,390			-
Stock options		14,679			4,703		14,679			5,649

(1)

The calculation of weighted average shares of common stock outstanding includes all vested deferred restricted stock units.