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Common Stock and Earnings (Loss) Per Share
 12 Months Ended
Dec. 29, 2018
Earnings Per Share, Basic and Diluted [Abstract]  
Common Stock and Earnings (Loss) Per Share
COMMON STOCK AND EARNINGS (LOSS) PER SHARE

Common & Preferred Stock

The Company's charter authorizes 80,000,000 shares of Common Stock with a $3 par value per share and 16,000,000 shares of Class B Common Stock with a $3 par value per share. Holders of Class B Common Stock have the right to twenty votes per share on matters that are submitted to Shareholders for approval and to dividends in an amount not greater than dividends declared and paid on Common Stock.  Class B Common Stock is restricted as to transferability and may be converted into Common Stock on a one share for one share basis. The Company's charter also authorizes 200,000,000 shares of Class C Common Stock, $3 par value per share, and 16,000,000 shares of Preferred Stock.  No shares of Class C Common Stock or Preferred Stock have been issued.

Earnings (Loss) Per Share

The Company's unvested stock awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, are considered participating securities and are included in the computation of earnings per share. The accounting guidance requires additional disclosure of EPS for common stock and unvested share-based payment awards, separately disclosing distributed and undistributed earnings. Undistributed earnings represent earnings that were available for distribution but were not distributed. Common stock and unvested share-based payment awards earn dividends equally.  All earnings were undistributed in all periods presented.

The following table sets forth the computation of basic and diluted earnings (loss) per share from continuing operations:
 
2018
 
2017
 
2016
Basic earnings (loss) per share:
 
 
 
 
 
Income (loss) from continuing operations
$
(21,479
)
 
$
(9,322
)
 
$
(5,207
)
Less: Allocation of earnings to participating securities
—

 
—

 
—

Income (loss) from continuing operations available to common shareholders - basic
$
(21,479
)
 
$
(9,322
)
 
$
(5,207
)
Basic weighted-average shares outstanding (1)
15,764

 
15,699

 
15,638

Basic earnings (loss) per share - continuing operations
$
(1.36
)
 
$
(0.59
)
 
$
(0.33
)
 
 
 
 
 
 
Diluted earnings (loss) per share:
 
 
 
 
 
Income (loss) from continuing operations available to common shareholders - basic
$
(21,479
)
 
$
(9,322
)
 
$
(5,207
)
Add: Undistributed earnings reallocated to unvested shareholders
—

 
—

 
—

Income (loss) from continuing operations available to common shareholders - basic
$
(21,479
)
 
$
(9,322
)
 
$
(5,207
)
Basic weighted-average shares outstanding (1)
15,764

 
15,699

 
15,638

Effect of dilutive securities:
 
 
 
 
 
Stock options (2)
—

 
—

 
—

Directors' stock performance units (2)
—

 
—

 
—

Diluted weighted-average shares outstanding (1)(2)
15,764

 
15,699

 
15,638

Diluted earnings (loss) per share - continuing operations
$
(1.36
)
 
$
(0.59
)
 
$
(0.33
)


(1)
Includes Common and Class B Common shares, excluding 570 unvested participating securities, in thousands.
(2)
Shares issuable under stock option plans where the exercise price is greater than the average market price of the Company's Common Stock during the relevant period and directors' stock performance units have been excluded to the extent they are anti-dilutive. Aggregate shares excluded were 422 in 2018, 448 in 2017 and 220 in 2016.