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

12 Months Ended

Dec. 31, 2022

Reconciliation of Numerator and Denominators of Basic and Diluted Net (Loss) Income 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 Year Ended
	December 31, 2022		January 1, 2022		January 2, 2021
Numerator (in millions):
Continuing operations	$	29.6	$	(3.2)	$	(156.8)
Discontinued operations	—		—		25.1
Net income (loss)	29.6		(3.2)		(131.7)
Basic Earnings Per Share
Denominator (in thousands):
Weighted average common shares outstanding - basic	160,763		160,778		155,446
Basic Earnings Per Share:
Continuing operations	$	0.18	$	(0.02)	$	(1.01)
Discontinued operations	—		—		0.16
Net income (loss)	$	0.18	$	(0.02)	$	(0.85)
Diluted Earnings Per Share
Denominator (in thousands):
Weighted average common shares outstanding - basic	160,763		160,778		155,446
Dilutive effect of Stock Options	261		—		—
Dilutive effect of Performance based RSUs	445		—		—
Dilutive effect of Time-based RSUs	416		—		—
Weighted average common shares outstanding - diluted	161,885		160,778		155,446
Diluted Earnings Per Share:
Continued operations	$	0.18	$	(0.02)	$	(1.01)
Discontinued operations	—		—		0.16
Net income (loss)	$	0.18	$	(0.02)	$	(0.85)

Summary of the Anti-dilutive Securities Excluded from the Computation of Diluted Net Income (Loss) 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 Year Ended
(in thousands)	December 31, 2022	January 1, 2022	January 2, 2021
Stock options	2,838	4,855	7,270
Performance-based RSUs 1	979	1,524	1,185
Time-based RSUs 2	—	885	548

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1 Performance-based RSUs represent the number of shares expected to be issued based on the estimated achievement of the performance metric for these awards.

2 Time-based RSUs represent the number of shares expected to be issued based on known employee retention information.