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Earnings (Loss) Per Share
6 Months Ended
Jun. 29, 2019
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share [Text Block]
13 .

Earnings (Loss) Per Share

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

          Quarter ended     Two quarters ended  
    June 29, 2019     June 30, 2018     June 29, 2019     June 30, 2018  
Numerator for basic earnings (loss) per share:                        
Earnings (loss) attributable to SunOpta Inc. $ (9,055 ) $ (3,174 ) $ 16,594   $ (7,537 )
Less: dividends and accretion on Series A Preferred Stock   (2,001 )   (1,974 )   (3,996 )   (3,941 )
Earnings (loss) attributable to common shareholders $ (11,056 ) $ (5,148 ) $ 12,598   $ (11,478 )
                         
Denominator for basic earnings (loss) per share:                        
Basic weighted-average number of shares outstanding   87,683     86,968     87,579     86,889  
                         
Basic earnings (loss) per share $ (0.13 ) $ (0.06 ) $ 0.14   $ (0.13 )
                         
Numerator for diluted earnings (loss) per share:                        
Earnings (loss) attributable to SunOpta Inc. $ (9,055 ) $ (3,174 ) $ 16,594   $ (7,537 )
Less: dividends and accretion on Series A Preferred Stock(1)   (2,001 )   (1,974 )   (3,996 )   (3,941 )
Earnings (loss) attributable to common shareholders $ (11,056 ) $ (5,148 ) $ 12,598   $ (11,478 )
                         
Denominator for diluted earnings (loss) per share:                        
Basic weighted-average number of shares outstanding   87,683     86,968     87,579     86,889  
Dilutive effect of the following:                        
Series A Preferred Stock(1)                
Stock options and restricted stock units(2)           164      
Diluted weighted-average number of shares outstanding   87,683     86,968     87,743     86,889  
                         
Diluted earnings (loss) per share $ (0.13 ) $ (0.06 ) $ 0.14   $ (0.13 )

(1)

For the quarters and two quarters ended June 29, 2019 and June 30, 2018, it was more dilutive to assume the Preferred Stock was not converted into Common Shares and, therefore, the numerator of the diluted earnings/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 June 29, 2019 and June 30, 2018, stock options and restricted stock units to purchase or receive 187,516 and 574,865 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, and for the two quarters ended June 30, 2018, 641,857 Common Shares were likewise excluded. In addition, for the quarter and two quarters ended June 29, 2019, options to purchase 3,176,284 (June 30, 2018 – 1,850,009 ) and 3,176,284 (June 30, 2018 – 2,032,158 ) Common Shares, respectively, were anti-dilutive because the exercise prices of these options were greater than the average market price.