Net Income (Loss) Per Share

3 Months Ended

Apr. 04, 2021

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 by using the basic weighted-average number of common shares outstanding plus any potentially dilutive securities outstanding during the period using the treasury-stock method and the if-converted method, except when their effect is anti-dilutive. Potentially dilutive securities include 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 Ended
(In thousands, except per share amounts)	April 4, 2021		March 29, 2020
Basic net income (loss) per share:
Numerator:
Net (loss) income attributable to stockholders - continuing operations	$	(48,385)	$	21,540
Net loss attributable to stockholders - discontinued operations	—		(22,971)
Net loss attributable to stockholders	$	(48,385)	$	(1,431)
Denominator:
Basic weighted-average common shares	171,200		168,822

Basic net (loss) income per share - continuing operations	$	(0.28)	$	0.13
Basic net loss per share - discontinued operations	—		(0.14)
Basic net loss per share	$	(0.28)	$	(0.01)

Diluted net income per share:
Numerator:
Net (loss) income attributable to stockholders - continuing operations	$	(48,385)	$	21,540
Add: Interest expense on 0.875% debentures due 2021, net of tax	—		505

Net (loss) income available to common stockholders - continuing operations	(48,385)		22,045
Net loss available to common stockholders - discontinued operations	$	—	$	(22,971)
Denominator:
Basic weighted-average common shares	171,200		168,822
Effect of dilutive securities:
Restricted stock units	—		2,104
0.875% debentures due 2021	—		6,350

Dilutive weighted-average common shares:	171,200		177,277

Dilutive net (loss) income per share - continuing operations	$	(0.28)	$	0.12
Dilutive net loss per share - discontinued operations	—		(0.13)
Dilutive net loss per share	$	(0.28)	$	(0.01)

The following is a summary of outstanding anti-dilutive potential common stock that was excluded from diluted net income per share attributable to stockholders in the following periods:


	Three Months Ended
(In thousands)	April 4, 2021	March 29, 2020
Restricted stock units	876	3,343
0.875% debentures due 2021	1,575	—
4.00% debentures due 2023	17,068	13,922