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Earnings Per Share
 3 Months Ended
Apr. 01, 2018
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
Basic earnings per share ("EPS") is calculated by dividing earnings attributable to Masonite by the weighted-average number of our common shares outstanding during the period. Diluted EPS is calculated by dividing earnings attributable to Masonite by the weighted-average number of common shares plus the incremental number of shares issuable from non-vested and vested RSUs and SARs outstanding during the period.
(In thousands, except share and per share information)
Three Months Ended
April 1, 2018
 
April 2, 2017
Net income (loss) attributable to Masonite
$
20,826

 
$
23,565

Less: income (loss) from discontinued operations, net of tax
(250
)
 
(245
)
Income (loss) from continuing operations attributable to Masonite
$
21,076

 
$
23,810

 
 
 
 
Shares used in computing basic earnings per share
28,189,790

 
29,861,099

Effect of dilutive securities:
 
 
 
Incremental shares issuable under share compensation plans and warrants
482,472

 
593,889

Shares used in computing diluted earnings per share
28,672,262

 
30,454,988

 
 
 
 
Basic earnings (loss) per common share attributable to Masonite:
 
 
 
Continuing operations attributable to Masonite
$
0.75

 
$
0.80

Discontinued operations attributable to Masonite, net of tax
(0.01
)
 
(0.01
)
Total Basic earnings per common share attributable to Masonite
$
0.74

 
$
0.79

 
 
 
 
Diluted earnings (loss) per common share attributable to Masonite:
 
 
 
Continuing operations attributable to Masonite
$
0.74

 
$
0.78

Discontinued operations attributable to Masonite, net of tax
(0.01
)
 
(0.01
)
Total Diluted earnings per common share attributable to Masonite
$
0.73

 
$
0.77

 
 
 
 
Anti-dilutive instruments excluded from diluted earnings per common share:
 
 
 
Stock appreciation rights
51,129

 
—


The weighted average number of shares outstanding utilized for the diluted EPS calculation contemplates the exercise of all currently outstanding SARs and the conversion of all RSUs. The dilutive effect of such equity awards is calculated based on the weighted average share price for each fiscal period using the treasury stock method. For the three months ended April 1, 2018, common shares issuable for stock appreciation rights which have a higher strike price than our weighted average market price have been excluded from the computation of diluted earnings per share, as their effect would have been anti-dilutive.