Common Shares and Net Income (Loss) per Common Share - (Tables)

9 Months Ended

Sep. 28, 2019

Earnings Per Share [Abstract]

Reconciliation of Numerator and Denominators of Basic and Diluted Net Income (Loss) Per Common Share

Set forth below is a reconciliation of the numerator and denominator for the diluted net income (loss) per common share computations for the periods indicated:

	For the Three Months Ended				For the Nine Months Ended
	September 28, 2019		September 29, 2018		September 28, 2019			September 29, 2018
Numerator (in millions of U.S. dollars):
Net income (loss) attributable to Cott Corporation
Continuing operations	$	8.6	$	8.5	$	(6.7	)	$	25.3
Discontinued operations	1.5		1.5		1.5			356.9
Net income (loss)	10.1		10.0		(5.2		)	382.2
Basic Earnings Per Share
Denominator (in thousands):
Weighted average common shares outstanding - basic	134,667		138,787		135,395			139,503
Basic Earnings Per Share:
Continuing operations	0.06		0.06		(0.05		)	0.18
Discontinued operations	0.01		0.01		0.01			2.56
Net income (loss)	0.07		0.07		(0.04		)	2.74
Diluted Earnings Per Share
Denominator (in thousands):
Weighted average common shares outstanding - basic	134,667		138,787		135,395			139,503
Dilutive effect of Stock Options	686		1,212		—			1,260
Dilutive effect of Performance-based RSUs	644		918		—			954
Dilutive effect of Time-based RSUs	211		259		—			246
Weighted average common shares outstanding - diluted	136,208		141,176		135,395			141,963
Diluted Earnings Per Share:
Continuing operations	0.06		0.06		(0.05		)	0.18
Discontinued operations	0.01		0.01		0.01			2.51
Net income (loss)	0.07		0.07		(0.04		)	2.69

Summary of the Anti-dilutive Securities Excluded from the Computation of Diluted Net (Loss) Income Per Common Share

The following table summarizes anti-dilutive securities excluded from the computation of diluted net income (loss) per common share for the periods indicated:

	For the Three Months Ended		For the Nine Months Ended
(in thousands)	September 28, 2019	September 29, 2018	September 28, 2019	September 29, 2018
Stock Options	2,202	1,141	5,473	1,086
Performance-based RSUs 1	527	327	1,215	327
Time-based RSUs	3	—	358	—

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¹

Performance-based RSUs represent the number of shares expected to be issued based primarily on the estimated achievement of cumulative pre-tax income targets for these awards.