XML 34 R14.htm IDEA: XBRL DOCUMENT v3.25.0.1
(Loss) Earnings Per Share
 12 Months Ended
Dec. 29, 2024
Earnings Per Share [Abstract]  
(Loss) Earnings Per Share (Loss) Earnings Per Share
In connection with the offering of the 2025 Notes, the Company entered into the Convertible Note Hedge Transactions and Warrant Transactions described in Note 11 - Convertible Senior Notes. However, the Convertible Note Hedge Transactions are not considered when calculating dilutive shares given their antidilutive impact as an offset to dilution of shares underlying the 2025 Notes. The Warrant Transactions have a dilutive effect on the Company’s common stock to the extent the price of its common stock exceeds the strike price of the Warrant Transactions. See Note 11 - Convertible Senior Notes for additional information regarding the 2025 Notes, Convertible Note Hedge Transactions and Warrant Transactions.

The following table presents the computation of basic and diluted (loss) earnings per share for the periods indicated:
 FISCAL YEAR
(in thousands, except per share data)202420232022
Net (loss) income attributable to Bloomin’ Brands
$(128,018)$247,386 $101,907 
Net (loss) income from discontinued operations, net of tax(75,982)41,629 16,053 
Net (loss) income attributable to Bloomin’ Brands from continuing operations$(52,036)$205,757 $85,854 
Basic weighted average common shares outstanding85,905 87,230 88,846 
Effect of dilutive securities:
Stock-based compensation awards— 767 623 
Convertible senior notes (1)— 5,067 6,089 
Warrants (1)— 3,389 2,954 
Diluted weighted average common shares outstanding85,905 96,453 98,512 
Basic (loss) earnings per share:
Continuing operations$(0.61)$2.36 $0.97 
Discontinued operations(0.88)0.48 0.18 
Net basic (loss) earnings per share$(1.49)$2.84 $1.15 
Diluted (loss) earnings per share:
Continuing operations$(0.61)$2.13 $0.87 
Discontinued operations(0.88)0.43 0.16 
Net diluted (loss) earnings per share$(1.49)$2.56 $1.03 
Antidilutive stock-based compensation awards1,706 924 2,502 
________________
(1)During 2024, the Company repurchased $83.6 million of the 2025 Notes and settled the corresponding portion of the related warrants. See Note 11 - Convertible Senior Notes for additional details.