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Net (Loss)/Income Per Share (Tables)

9 Months Ended

Sep. 27, 2022

Schedule of basic and diluted net income per share


	Thirteen		Thirteen		Thirty-Nine		Thirty-Nine
	Weeks Ended		Weeks Ended		Weeks Ended		Weeks Ended
	September 27, 2022		September 28, 2021		September 27, 2022		September 28, 2021

	(In thousands, except per share data)
Basic net (loss)/income per common share:
Net (loss)/income	$	(2,398)	$	32,680	$	46,421	$	70,263
Dividends on Series A preferred stock		—		—		—		(18,661)
Undistributed earnings allocated to Series A preferred stock		—		—		—		(5,804)
Net (loss)/income available to common stockholders		(2,398)		32,680		46,421		45,798
Basic weighted-average shares outstanding		49,653		50,212		50,124		46,624
Basic net (loss)/income per common share	$	(0.05)	$	0.65	$	0.93	$	0.98

Diluted net (loss)/income per common share:
Net (loss)/income available to common stockholders		(2,398)		32,680		46,421		45,798
Reallocation of undistributed earnings to Series A preferred stock		—		—		—		114
Net (loss)/income available to common stockholders for diluted earnings per share		(2,398)		32,680		46,421		45,912
Basic weighted-average shares outstanding		49,653		50,212		50,124		46,624
Dilutive effect of equity awards ⁽¹⁾		—		901		584		1,051
Diluted weighted-average shares outstanding		49,653		51,113		50,708		47,675
Diluted net (loss)/income per common share	$	(0.05)	$	0.64	$	0.92	$	0.96

(1)

Shares of common stock equivalents related to outstanding stock options, restricted stock and restricted stock units of 3.3 million and 3.8 million as of September 27, 2022 and September 28, 2021, respectively, were excluded from the diluted calculation due to their anti-dilutive effect. No shares of common stock equivalents related to the Notes were included in the diluted calculation due to their anti-dilutive effect.