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Net (Loss) Income per Share (Tables)

9 Months Ended

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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Tabular disclosure of the effect of income (loss) on basic earnings per share.

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Tabular disclosure of the effect of income (loss) on an entity's diluted earnings per share.

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