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Net (Loss) Income per Share (Tables) | 3 Months Ended
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Mar. 26, 2022
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 |
|  | March 26, 2022 |  |  | March 27 2021 |
|  | (in thousands, except per share data) |
Net (loss) income |  | $ | (1,955 | ) |  | $ | 65,565 |
Allocation of net (loss) income for basic: |  |  |  |  |  |
Class A Common Stock |  | $ | (1,621 | ) |  | $ | 53,628 |
Class B Common Stock |  |  | (329 | ) |  |  | 11,638 |
Unvested participating shares |  |  | (5 | ) |  |  | 299 |
|  | $ | (1,955 | ) |  | $ | 65,565 |
Weighted average number of shares for basic: |  |  |  |  |  |
Class A Common Stock |  |  | 10,200 |  |  |  | 10,037 |
Class B Common Stock* |  |  | 2,068 |  |  |  | 2,178 |
Unvested participating shares |  |  | 32 |  |  |  | 56 |
|  |  | 12,300 |  |  |  | 12,271 |
Net (loss) income per share for basic: |  |  |  |  |  |
Class A Common Stock |  | $ | (0.16 | ) |  | $ | 5.34 |
Class B Common Stock |  | $ | (0.16 | ) |  | $ | 5.34 |
*The reduction in Class B Common Stock resulted from the conversion to Class A Common stock during fiscal 2021.
Computations of Diluted Net (Loss) Income Per Share | The following table sets forth the computations of diluted net (loss) income per share, assuming the conversion of all Class B Common Stock into Class A Common Stock for the thirteen weeks ended March 26, 2022 and March 27, 2021:
|  | Thirteen weeks ended |
|  | March 26, 2022 |  |  | March 27, 2021 |
|  | Loss to Common Shareholders |  |  | Common Shares |  |  | EPS |  |  | Earnings to Common Shareholders |  |  | Common Shares |  |  | EPS |
|  | (in thousands, except per share data) |
As reported - basic |  | $ | (1,621 | ) |  |  | 10,200 |  |  | $ | (0.16 | ) |  | $ | 53,628 |  |  |  | 10,037 |  |  | $ | 5.34 |
Add: effect of dilutive common shares |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Share-based awards |  |  | — |  |  |  | — |  |  |  |  |  |  | — |  |  |  | 162 |  |  |  |
Class B Common Stock |  |  | (329 | ) |  |  | 2,068 |  |  |  |  |  |  | 11,638 |  |  |  | 2,178 |  |  |  |
Net effect of unvested participating shares |  |  | (5 | ) |  |  | 32 |  |  |  |  |  |  | 299 |  |  |  | 80 |  |  |  |
Net (loss) income per common share - diluted |  | $ | (1,955 | ) |  |  | 12,300 |  |  | $ | (0.16 | ) |  | $ | 65,565 |  |  |  | 12,457 |  |  | $ | 5.26 |

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