(Loss) Earnings per Share (Tables)

12 Months Ended

Dec. 29, 2019

(Loss) Earnings per Share

Schedule of Earnings (Loss) Per Share, Basic and Diluted

The calculations of basic (loss) earnings per common share and diluted (loss) earnings per common share for the years ended December 29, 2019, December 30, 2018 and December 31, 2017 are as follows (in thousands, except per share data):

	2019		2018		2017
Basic (loss) earnings per common share:
Net income attributable to the Company	$	4,866	$	2,474	$	102,292
Preferred stock dividends and accretion		(12,499)		—		—
Change in noncontrolling interest redemption value		—		—		1,419
Net income attributable to participating securities		—		—		(423)
Net (loss) income attributable to common shareholders	$	(7,633)	$	2,474	$	103,288
Basic weighted average common shares outstanding		31,632		32,083		36,083
Basic (loss) earnings per common share	$	(0.24)	$	0.08	$	2.86
Diluted (loss) earnings per common share:
Net (loss) income attributable to common shareholders	$	(7,633)	$	2,474	$	103,288
Weighted average common shares outstanding		31,632		32,083		36,083
Dilutive effect of outstanding equity awards (a)		—		216		439
Diluted weighted average common shares outstanding (b)		31,632		32,299		36,522
Diluted (loss) earnings per common share	$	(0.24)	$	0.08	$	2.83

(a) Shares subject to options to purchase common stock with an exercise price greater than the average market price for the year were not included in the computation of diluted earnings per common share because the effect would have been antidilutive. The weighted average number of shares subject to antidilutive options was 1.2 million in 2018 and 278,000 in 2017.

(b) The Company had 252,530 shares of Series B Preferred Stock outstanding as of December 29, 2019.  For the fully diluted calculation, the Series B Preferred stock dividends were added back to net income attributable to common stockholders.  The Company then applied the if-converted method to calculate dilution on the Series B Preferred Stock, which resulted in 5.0 million additional common shares.  This calculation was anti-dilutive.