XML 33 R22.htm IDEA: XBRL DOCUMENT v3.20.2
Net Income Per Share
 9 Months Ended
Sep. 27, 2020
Earnings Per Share [Abstract]  
Net Income Per Share NET INCOME (LOSS) PER SHARE
 
We calculate basic net income (loss) per share by dividing earnings allocated to common stockholders by the basic weighted-average number of common shares outstanding for the period.

Diluted weighted-average shares is computed using basic weighted-average number of common shares outstanding plus any potentially dilutive securities outstanding during the period using the treasury-stock-type method and the if-converted method, except when their effect is anti-dilutive. Potentially dilutive securities include stock options, restricted stock units, and the outstanding senior convertible debentures.

ASC 260 requires that companies use income from continuing operations as a "control number" or benchmark to determine whether potential common shares are dilutive or antidilutive. When calculating discontinued operations, we used the same number of potential common shares used in computing the diluted per-share amount of income from continuing operations in computing all other reported diluted per-share amounts, even if the effect will be antidilutive compared to their respective basic per-share amounts.

The following table presents the calculation of basic and diluted net income (loss) per share attributable to stockholders:
 Three Months EndedNine Months Ended
(In thousands, except per share amounts)September 27, 2020September 29, 2019September 27, 2020September 29, 2019
Basic net income per share:
Numerator:
Net income attributable to stockholders - continuing operations $109,450 $18,644 $186,880 $159,459 
Net loss attributable to stockholders - discontinued operations$(64,824)(33,661)$(124,307)$(142,741)
Net income attributable to stockholders44,626 (15,017)62,573 16,718 
Denominator:
Basic weighted-average common shares170,113 142,553 169,646 142,248 
Basic net income per share - continuing operations$0.64 $0.13 $1.10 $1.12 
Basic net loss per share - discontinued operations$(0.38)$(0.24)$(0.73)$(1.00)
Basic net income (loss) per share$0.26 $(0.11)$0.37 $0.12 
Diluted net income per share1
Numerator:
     Net income attributable to stockholders - continuing operations$109,450 $18,644 $186,880 $159,459 
       Add: Interest expense on 4.00% debentures due 2023, net of tax
3,358 — 10,066 10,073 
       Add: Interest expense on 0.875% debentures due 2021, net of tax
467 691 1,507 2,074 
Net income available to common stockholders - continuing operations$113,275 $19,335 $198,453 $171,606 
Net loss available to common stockholders - discontinued operations$(64,824)(33,661)$(124,307)(142,741)
Denominator:
    Basic weighted-average common shares170,113 142,553 169,646 142,248 
    Effect of dilutive securities:
        Restricted stock units3,560 4,827 3,354 2,488 
        0.875% debentures due 2021
7,785 8,203 10,056 8,203 
        4.00% debentures due 2023
17,068 — 17,068 13,922 
Dilutive weighted-average common shares:198,526 155,583 200,124 166,861 
Dilutive net income per share - continuing operations$0.57 $0.12 $0.99 $1.03 
Dilutive net loss per share - discontinued operations$(0.33)(0.22)$(0.62)(0.86)
Dilutive net income (loss) per share$0.24 (0.10)$0.37 0.17 


The following is a summary of outstanding anti-dilutive potential common stock that was excluded from diluted net loss per share attributable to stockholders in the following periods:
 Three Months EndedNine Months Ended
(In thousands)September 27, 2020September 29, 2019September 27, 2020September 29, 2019
Restricted stock units382 559 4,774 837 
4.00% debentures due 2023
— 13,922 — —