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Net (Loss) Income per Share (Tables) | 9 Months Ended
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Sep. 25, 2021
Earnings Per Share [Abstract] |
Computation of (Loss) Earnings Per Share, Basic | The following table sets forth the computation of basic net (loss) income per share using the two-class method:
|  | Thirteen weeks ended |  |  | Thirty-nine weeks ended |
|  | September 25, 2021 |  |  | September 26, 2020 |  |  | September 25, 2021 |  |  | September 26, 2020 |
|  | (in thousands, except per share data) |  |  | (in thousands, except per share data) |
Net (loss) income |  | $ | (58,421 | ) |  | $ | 80,768 |  |  | $ | 66,338 |  |  | $ | 159,143 |
Allocation of net (loss) income for basic: |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock |  | $ | (48,356 | ) |  | $ | 65,074 |  |  | $ | 54,586 |  |  | $ | 126,146 |
Class B Common Stock |  |  | (9,885 | ) |  |  | 15,254 |  |  |  | 11,502 |  |  |  | 31,996 |
Unvested participating shares |  |  | (180 | ) |  |  | 440 |  |  |  | 250 |  |  |  | 1,001 |
|  | $ | (58,421 | ) |  | $ | 80,768 |  |  | $ | 66,338 |  |  | $ | 159,143 |
Weighted average number of shares for basic: |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock |  |  | 10,166 |  |  |  | 9,846 |  |  |  | 10,103 |  |  |  | 9,663 |
Class B Common Stock* |  |  | 2,078 |  |  |  | 2,308 |  |  |  | 2,129 |  |  |  | 2,451 |
Unvested participating shares |  |  | 38 |  |  |  | 67 |  |  |  | 47 |  |  |  | 77 |
|  |  | 12,282 |  |  |  | 12,221 |  |  |  | 12,279 |  |  |  | 12,191 |
Net (loss) income per share for basic: |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock |  | $ | (4.76 | ) |  | $ | 6.61 |  |  | $ | 5.40 |  |  | $ | 13.05 |
Class B Common Stock |  | $ | (4.76 | ) |  | $ | 6.61 |  |  | $ | 5.40 |  |  | $ | 13.05 |
*Change in Class B Common Stock resulted from the conversion of 130,000 shares to Class A Common Stock on November 3, 2020 and 99,983 shares to Class A Common Stock on May 14, 2021 with the ending number of shares reflecting the weighted average for the period.
Computation of (Loss) Earnings Per Share, Diluted | The following table sets forth the computation of diluted net (loss) income per share, assuming the conversion of all Class B Common Stock into Class A Common Stock for the thirteen and thirty-nine weeks ended September 25, 2021 and for the thirteen and thirty-nine weeks ended September 26, 2020:
|  | Thirteen weeks ended |
|  | September 25, 2021 |  |  | September 26, 2020 |
|  | Loss to Common Shareholders |  |  | Common Shares |  |  | EPS |  |  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |
|  | (in thousands, except per share data) |
As reported - basic |  | $ | (48,356 | ) |  |  | 10,166 |  |  | $ | (4.76 | ) |  | $ | 65,074 |  |  |  | 9,846 |  |  | $ | 6.61 |
Add: effect of dilutive potential common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Share-based awards |  |  | — |  |  |  | — |  |  |  |  |  |  | — |  |  |  | 179 |  |  |  |
Class B Common Stock |  |  | (9,885 | ) |  |  | 2,078 |  |  |  |  |  |  | 15,254 |  |  |  | 2,308 |  |  |  |
Net effect of unvested participating shares |  |  | (180 | ) |  |  | 38 |  |  |  |  |  |  | 6 |  |  |  | — |  |  |  |
Net (loss) income per common share - diluted |  | $ | (58,421 | ) |  |  | 12,282 |  |  | $ | (4.76 | ) |  | $ | 80,334 |  |  |  | 12,333 |  |  | $ | 6.51 |
|  | Thirty-nine weeks ended |
|  | September 25, 2021 |  |  | September 26, 2020 |
|  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |  |  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |
|  | (in thousands, except per share data) |
As reported - basic |  | $ | 54,586 |  |  |  | 10,103 |  |  | $ | 5.40 |  |  | $ | 126,146 |  |  |  | 9,663 |  |  | $ | 13.05 |
Add: effect of dilutive potential common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Share-based awards |  |  | — |  |  |  | 151 |  |  |  |  |  |  | — |  |  |  | 145 |  |  |  |
Class B Common Stock |  |  | 11,502 |  |  |  | 2,129 |  |  |  |  |  |  | 31,996 |  |  |  | 2,451 |  |  |  |
Net effect of unvested participating shares |  | 250 |  |  |  | 67 |  |  |  |  |  |  | 12 |  |  |  | — |  |  |  |
Net income per common share - diluted |  | $ | 66,338 |  |  |  | 12,450 |  |  | $ | 5.33 |  |  | $ | 158,154 |  |  |  | 12,259 |  |  | $ | 12.90 |

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