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Earnings (Loss) Per Share | 3 Months Ended
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Mar. 29, 2020
Earnings (Loss) Per Share |
Earnings (Loss) Per Share | 7. Earnings (Loss) Per Share ​ We compute earnings (loss) per share using the two-class method. The two-class method requires an earnings allocation formula that determines earnings (loss) per share for common stockholders and participating security holders according to dividends declared and participating rights in undistributed earnings. The Series B Preferred Stock and time-based restricted stock awards are participating securities because holders of such shares have non-forfeitable dividend rights and participate in undistributed earnings with common stock. Under the two-class method, total dividends provided to the holders of Series B Preferred Stock, including common dividends and undistributed earnings allocated to participating securities are subtracted from net income (loss) attributable to the Company in determining net income (loss) attributable to common stockholders. Additionally, any accretion to redemption value for the Series B Preferred Stock is treated as a deemed dividend in the two-class EPS calculation. ​ The calculations of basic and diluted earnings (loss) per common share are as follows (in thousands, except per-share data): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended
​ | ​ | March 29, | ​ | March 31,
​ | ​ | 2020 |  | 2019
​ | ​ | ​ | ​ | ​ | ​ | ​
Basic earnings (loss) per common share: | ​ | ​ | ​ | ​ | ​ | ​
Net income (loss) attributable to the Company | ​ | $ | 8,443 | ​ | $ | (1,731)
Preferred stock dividends and accretion | ​ | ​ | (3,471) | ​ | ​ | (2,070)
Net income (loss) attributable to common shareholders | ​ | $ | 4,972 | ​ | $ | (3,801)
​ | ​ | ​ | ​ | ​ | ​ | ​
Basic weighted average common shares outstanding | ​ |  | 32,093 | ​ |  | 31,554
Basic earnings (loss) per common share | ​ | $ | 0.15 | ​ | $ | (0.12)
​ | ​ | ​ | ​ | ​ | ​ | ​
Diluted earnings (loss) per common share: | ​ | ​ | ​ | ​ | ​ | ​
Net income (loss) attributable to common shareholders | ​ | $ | 4,972 | ​ | $ | (3,801)
​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted average common shares outstanding | ​ |  | 32,093 | ​ |  | 31,554
Dilutive effect of outstanding equity awards (a) | ​ |  | 227 | ​ |  | —
Diluted weighted average common shares outstanding (b) | ​ |  | 32,320 | ​ |  | 31,554
Diluted earnings (loss) per common share | ​ | $ | 0.15 | ​ | $ | (0.12)
(a) | Excludes 382 equity awards for the three months ended March 29, 2020 as the effect of including such awards would have been anti-dilutive.
(b) | The Company had 252,530 shares of Series B Preferred Stock outstanding as of March 29, 2020 and December 29, 2019. For the fully diluted calculation, the Series B Preferred stock dividends were added back to net income attributable to common stockholders. The Company then applied the if-converted method to calculate dilution on the Series B Preferred Stock, which resulted in 5.0 million additional common shares. This calculation was anti-dilutive for both periods presented.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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