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Earnings (Loss) per Share (Tables)

12 Months Ended

Dec. 27, 2020

Earnings (Loss) per Share

Schedule of Earnings (Loss) Per Share, Basic and Diluted

The calculations of basic earnings (loss) per common share and diluted earnings (loss) per common share for the years ended December 27, 2020, December 29, 2019 and December 30, 2018 are as follows (in thousands, except per share data):

​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​
​	2020		​	2019			2018
​	​	​	​	​	​	​	​	​
Basic earnings (loss) per common share	​	​	​	​	​	​	​	​
Net income attributable to the Company	$	57,932	​	$	4,866	​	$	2,474
Dividends paid to participating securities and accretion	​	(14,059)	​	​	(12,499)	​	​	—
Net income attributable to participating securities		(2,136)	​		—	​		—
Net income (loss) attributable to common shareholders	$	41,737	​	$	(7,633)	​	$	2,474
​	​	​	​	​	​	​	​	​
Basic weighted average common shares outstanding		32,421	​		31,632	​		32,083
Basic earnings (loss) per common share	$	1.29	​	$	(0.24)	​	$	0.08
​	​	​	​	​	​	​	​	​
Diluted earnings (loss) per common share	​	​	​	​	​	​	​	​
Net income (loss) attributable to common shareholders	$	41,737	​	$	(7,633)	​	$	2,474
​	​	​	​	​	​	​	​	​
Weighted average common shares outstanding		32,421	​		31,632	​		32,083
Dilutive effect of outstanding equity awards (a)		296	​		—	​		216
Diluted weighted average common shares outstanding (b)		32,717	​		31,632	​		32,299
Diluted earnings (loss) per common share	$	1.28	​	$	(0.24)	​	$	0.08

​

(a) Shares subject to options to purchase common stock with an exercise price greater than the average market price for the year were not included in the computation of diluted earnings per common share because the effect would have been antidilutive. The weighted average number of shares subject to antidilutive options was 100 in 2020 and 1,200 in 2018, respectively (none in 2019).

(b) The Company had 252.5 shares of Series B Preferred Stock outstanding as of December 27, 2020 and December 29, 2019, respectively.  For the fully diluted calculation, the Series B Preferred stock dividends were added back to net income (loss) attributable to common shareholders.  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 and as such was excluded.

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- References

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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