XML 20 R9.htm IDEA: XBRL DOCUMENT v3.20.2
Earnings Per Share
 9 Months Ended
Oct. 04, 2020
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
The Company computes basic earnings or loss per share (“EPS”) by dividing net income or loss by the weighted average common shares outstanding, including participating securities outstanding, during the period as discussed below. Diluted EPS reflects the potential dilution beyond shares for basic EPS that could occur if securities or other contracts to issue common stock were exercised, converted into common stock or resulted in the issuance of common stock that would have shared in the Company’s earnings.
The Company includes all unvested stock awards which contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, in the number of shares outstanding in the basic and diluted EPS calculations when the inclusion of these shares would be dilutive. Unvested share-based awards of restricted stock are paid dividends equally with all other shares of common stock. As a result, the Company includes all outstanding restricted stock awards in the calculation of basic and diluted EPS. Distributed earnings include common stock dividends and dividends earned on unvested share-based payment awards. Undistributed earnings represent earnings that were available for distribution but were not distributed. The following tables show distributed and undistributed earnings:
Three Months EndedNine Months Ended
Earnings (Loss) Per ShareOctober 4, 2020September 29, 2019October 4, 2020September 29, 2019
Basic Earnings (Loss) Per Share:
Distributed Earnings $0.01 $0.07 $0.09 $0.19 
Undistributed Earnings (Loss)0.09 0.38 (1.65)0.87 
Total$0.10 $0.45 $(1.56)$1.06 
 
Diluted Earnings (Loss) Per Share:
Distributed Earnings $0.01 $0.07 $0.09 $0.19 
Undistributed Earnings (Loss)0.09 0.38 (1.65)0.87 
Total$0.10 $0.45 $(1.56)$1.06 
 
Basic Earnings (Loss) Per Share$0.10 $0.45 $(1.56)$1.06 
Diluted Earnings (Loss) Per Share$0.10 $0.45 $(1.56)$1.06 
The following table presents net income that was attributable to participating securities:
Three Months EndedNine Months Ended
October 4, 2020September 29, 2019October 4, 2020September 29, 2019
(In millions)
Net Income Attributable to Participating Securities$— $0.2 $— $0.6 
The weighted average shares for basic and diluted EPS were as follows:
Three Months EndedNine Months Ended
October 4, 2020September 29, 2019October 4, 2020September 29, 2019
(In thousands)
Weighted Average Shares Outstanding58,140 57,915 58,055 58,599 
Participating Securities452 518 452 518 
Shares for Basic EPS58,592 58,433 58,507 59,117 
Dilutive Effect of Stock Options— 1 — 5 
Shares for Diluted EPS58,592 58,434 58,507 59,122 
For all periods presented, there were no stock options or participating securities excluded from the computation of diluted EPS.