XML 80 R19.htm IDEA: XBRL DOCUMENT v2.4.0.8
Income (Loss) Per Share
 9 Months Ended
Sep. 28, 2013
Earnings Per Share [Abstract]  
Income (Loss) per Share [Text Block]
 Income/(Loss) per Share

Basic income/(loss) per share is computed based upon the weighted average number of common shares outstanding for the period. When applicable, diluted income/(loss) per share is calculated using two approaches. The first approach, the treasury stock method, reflects the potential dilution that could occur if the stock options, RSUs and PSUs (“Equity Awards”) to issue common stock were exercised. The second approach, the if converted method, reflects the potential dilution of the Equity Awards and the 7% senior exchangeable notes due 2017 ("7% Notes") being exchanged for common stock. Under this method, interest expense associated with the 7% Notes, net of tax, is added back to income from continuing operations and the shares outstanding are increased by the underlying 7% Notes equivalent.

For the nine months ended September 28, 2013 and September 29, 2012, the effect of approximately 24,041,047 and 25,066,150 shares, respectively, related to the exchange of the 7% Notes for common stock and the issuance of common stock upon exercise of Equity Awards, were excluded from the calculation of diluted income/(loss) per share, as the effect would be anti-dilutive.

The following table sets forth the computation of basic and diluted income/(loss) per share for the periods ended (in thousands, except per share data): 
 
 
For the Three Months Ended
 
For the Nine Months Ended
 
 
September 28, 2013
 
September 29, 2012
 
September 28, 2013
 
September 29, 2012
Numerator for basic and diluted income/(loss) per share:
 
 
 
 
 
 
 
 
Income/(loss) from continuing operations
 
$
10,491

 
$
3,022

 
$
(28,995
)
 
$
(23,139
)
Income/(loss) from discontinued operations, net of taxes
 
13,492

 
1,453

 
14,950

 
(5
)
Net income/(loss)
 
$
23,983

 
$
4,475

 
$
(14,045
)
 
$
(23,144
)
Numerator for diluted income/(loss) per share:
 
 
 
 
 
 
 
 
Income/(loss) from continuing operations - as reported
 
$
10,491

 
$
3,022

 
$
(28,995
)
 
$
(23,139
)
Interest expense on 7% Notes, net of taxes
 
1,020

 
1,020

 
—

 
—

Income/(loss) from continuing operations - after assumed conversions of dilutive shares
 
11,511

 
4,042

 
(28,995
)
 
(23,139
)
Income/(loss) from discontinued operations, net of taxes
 
13,492

 
1,453

 
14,950

 
(5
)
Net income/(loss) for diluted income (loss) per share after assumed conversions of dilutive shares
 
$
25,003

 
$
5,495

 
$
(14,045
)
 
$
(23,144
)
Denominator for weighted average common shares outstanding:
 
 

 
 

 
 

 
 

Basic shares
 
64,333

 
63,624

 
64,032

 
63,502

Dilutive effect of convertible notes
 
20,831

 
20,831

 
—

 
—

Dilutive effect of equity awards
 
868

 
89

 
—

 
—

Diluted shares
 
86,032

 
84,544

 
64,032

 
63,502

 
 
 
 
 
 
 
 
 
Income/(loss) per share – basic:
 
 
 
 
 
 
 
 
Continuing operations
 
$
0.16

 
$
0.05

 
$
(0.45
)
 
$
(0.36
)
Discontinued operations
 
0.21

 
0.02

 
0.23

 
—

Net income/(loss)
 
$
0.37

 
$
0.07

 
$
(0.22
)
 
$
(0.36
)
 
 
 
 
 
 
 
 
 
Income/(loss) per share – diluted:
 
 
 
 
 
 
 
 
Continuing operations
 
$
0.13

 
$
0.04

 
$
(0.45
)
 
$
(0.36
)
Discontinued operations
 
0.16

 
0.02

 
0.23

 
—

Net income/(loss)
 
$
0.29

 
$
0.06

 
$
(0.22
)
 
$
(0.36
)