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EARNINGS PER COMMON SHARE (Tables)
9 Months Ended
Sep. 28, 2013
EARNINGS PER COMMON SHARE  
Schedule of computation of basic and diluted earnings per common share

 

 

 

 

Nine Months Ended

 

Three Months Ended

 

In thousands

 

September 28,
2013
(39 Weeks)

 

September 29,
2012
(39 Weeks)

 

September 28,
2013
(13 Weeks)

 

September 29,
2012
(13 Weeks)

 

Loss from continuing operations

 

 $

(90,781

)

$

(120,674

)

$

 (14,901

)

 $

(19,393

)

(Loss) income from discontinued operations, net of income taxes

 

(21,396

)

(10,865

)

(1,965

)

592

 

Net loss

 

 $

(112,177

)

$

(131,539

)

$

 (16,866

)

 $

(18,801

)

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

 

120,480

 

107,692

 

122,396

 

113,109

 

Stock options and nonvested shares (a)(b)

 

--

 

--

 

--

 

--

 

Convertible Notes (c)

 

--

 

--

 

--

 

--

 

Diluted weighted average shares outstanding (a)(b)(c)

 

120,480

 

107,692

 

122,396

 

113,109

 

 

 

 

 

 

 

 

 

 

 

Loss per share:

 

 

 

 

 

 

 

 

 

Basic and diluted

 

 

 

 

 

 

 

 

 

Loss from continuing operations

 

 $

(0.75

)

$

 (1.12

)

$

 (0.12

)

 $

(0.17

)

(Loss) income from discontinued operations

 

 $

(0.18

)

$

 (0.10

)

$

 (0.02

)

 $

--

 

Net loss

 

 $

(0.93

)

$

 (1.22

)

$

 (0.14

)

 $

(0.17

)

 

(a)               Because the Company incurred a loss from continuing operations for the nine and three months ended September 28, 2013 and September 29, 2012, all outstanding stock options and nonvested shares are antidilutive for such periods. Accordingly, for the nine and three months ended September 28, 2013 and September 29, 2012, approximately 5.7 million and 5.9 million outstanding stock options, respectively, and approximately 0.6 million and 0.5 million outstanding nonvested shares, respectively, were excluded from the computation of diluted loss per share.

(b)               Excludes approximately 0.5 million nonvested shares for the nine and three months ended September 28, 2013 and 1.2 million nonvested shares for the nine and three months ended September 29, 2012, for which the performance criteria have not yet been achieved.

(c)               Because the Company incurred a loss from continuing operations for the nine and three months ended September 28, 2013 and September 29, 2012, approximately 2.0 million and 13.7 million potentially dilutive shares issuable upon conversion of the Convertible Notes, respectively and approximately 0.3 million and 8.9 million potentially dilutive shares issuable upon conversion of the Convertible Notes, respectively, were considered antidilutive for such periods, and were excluded from the computation of diluted loss per share.