Net Loss Per Common Share

3 Months Ended

Apr. 01, 2017

Earnings Per Share [Abstract]

Net Loss Per Common Share

Note 4—Net Loss Per Common Share

Basic net loss per common share is calculated by dividing net loss attributed to Cott Corporation by the weighted average number of common shares outstanding during the periods presented. Diluted net loss per common share is calculated by dividing net loss attributed to Cott Corporation by the weighted average number of common shares outstanding adjusted to include the effect, if dilutive, of the exercise of in-the-money stock options, Performance-based RSUs, and Time-based RSUs during the periods presented. Set forth below is a reconciliation of the denominator for the diluted net loss per common share computations for the periods indicated:

	For the Three Months Ended
(in thousands)	April 1, 2017			April 2, 2016
Diluted net loss attributed to Cott Corporation (numerator)	$	(36.4	)	$	(2.8	)
Weighted average common shares outstanding - basic		138,735			113,267
Dilutive effect of Stock Options		—			—
Dilutive effect of Performance-based RSUs		—			—
Dilutive effect of Time-based RSUs		—			—
Weighted average common shares outstanding - diluted (denominator)		138,735			113,267

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

	For the Three Months Ended
(in thousands)	April 1, 2017		April 2, 2016
Stock Options		4,474		2,892
Performance-based RSUs 1		1,824		2,003
Time-based RSUs		721		733

^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.