Earnings per Share (EPS) and Common Stock

EPS

Basic EPS is calculated by dividing net income by the weighted average number of shares outstanding during the period. Diluted EPS is calculated by dividing net income by the weighted average number of shares outstanding plus the dilutive effect, if any, of outstanding RSUs using the treasury stock method. The calculation of the dilutive effect of outstanding equity awards under the treasury stock method includes consideration of unrecognized compensation expense and any tax benefits as additional proceeds.



	Three months ended
Calculation of Basic and Diluted EPS	December 31, 2016			January 2, 2016
	(in thousands, except per share data)
Net loss	$	(9,141	)	$	(23,892	)
Weighted average shares outstanding—Basic	115,290			114,151
Dilutive effect of restricted stock units	—			—
Weighted average shares outstanding—Diluted	115,290			114,151
Loss per share—Basic	$	(0.08	)	$	(0.21	)
Loss per share—Diluted	$	(0.08	)	$	(0.21	)

For the three months ended December 31, 2016 and January 2, 2016 diluted net loss per share is the same as basic net loss per share as the effects of our potential common stock equivalents are antidilutive. Total antidilutive shares were 1.8 million and 2.0 million for the three months ended December 31, 2016 and January 2, 2016, respectively.

Common Stock Repurchases

Our Articles of Organization authorize us to issue up to 500 million shares of our common stock. Our Board of Directors has periodically authorized the repurchase of shares of our common stock. On August 4, 2014, our Board of Directors authorized us to repurchase up to $600 million of our common stock through September 30, 2017. We did not repurchase any shares in the first quarters of 2017 and 2016. All shares of our common stock repurchased are automatically restored to the status of authorized and unissued.