Earnings Per Share

3 Months Ended

Mar. 31, 2018

10. Loss Per Share

Basic and diluted loss per share were calculated as follows (shares in thousands):

			Quarter ended
			March 31, 2018		April 1, 2017
Numerator for basic loss per share:
	Loss attributable to SunOpta Inc.		$	(4,363)	$	(11,398)
	Less: dividends and accretion on Series A Preferred Stock			(1,967)		(1,940)
	Loss attributable to common shareholders		$	(6,330)	$	(13,338)

Denominator for basic loss per share:
	Basic weighted-average number of shares outstanding			86,810		85,929

Basic loss per share			$	(0.07)	$	(0.16)

Numerator for diluted loss per share:
	Loss attributable to SunOpta Inc.		$	(4,363)	$	(11,398)
	Less: dividends and accretion on Series A Preferred Stock⁽¹⁾			(1,967)		(1,940)
	Loss attributable to common shareholders		$	(6,330)	$	(13,338)

Denominator for diluted loss per share:
	Basic weighted-average number of shares outstanding			86,810		85,929
	Dilutive effect of the following:
		Series A Preferred Stock⁽¹⁾		-		-
		Stock options and restricted stock units⁽²⁾		-		-
	Diluted weighted-average number of shares outstanding			86,810		85,929

Diluted loss per share			$	(0.07)	$	(0.16)

(1) For the quarters ended March 31, 2018, it was more dilutive to assume the Preferred Stock was not converted into Common Shares and, therefore, the numerator of the diluted loss per share calculation was not adjusted to add back the dividends and accretion on the Preferred Stock and the denominator was not adjusted to include 11,333,333 Common Shares issuable on an if-converted basis.

(2) For the quarters ended March 31, 2018 and April 1, 2017, stock options and restricted stock units to purchase or receive 657,946 and 84,659 Common Shares, respectively, were excluded from the calculation of diluted loss per share due to their anti-dilutive effect of reducing the loss per share. In addition, for the quarters ended March 31, 2018 and April 1, 2017, options to purchase 1,984,184 and 1,362,347 Common Shares, respectively, were anti-dilutive because the exercise prices of these options were greater than the average market price.