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Earnings per Common Share | 12 Months Ended
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Dec. 29, 2018
Earnings Per Share [Abstract] |
Earnings per Common Share | Earnings per Common Share We calculate basic earnings per share by dividing net income by the weighted average number of common shares outstanding, excluding unvested restricted shares. We calculate diluted earnings per share using the treasury stock method, by dividing net income by the weighted average number of common shares outstanding plus the dilutive effect of outstanding share-based awards, including restricted stock awards and units, performance shares, and stock options. The following table shows the computation of basic and diluted earnings per share:
| Fiscal Year Ended
| December 29, 2018(1) |  | December 30, 2017 |  | December 31, 2016
| (In thousands, except per share data)
Net income (loss) | $ | (48,053 | ) |  | $ | 62,994 |  |  | $ | 16,085 |
Basic weighted average shares outstanding | 9,230 |  |  | 9,045 |  |  | 8,913 |
Dilutive effect of share-based awards | — |  |  | 201 |  |  | 156 |
Diluted weighted average shares outstanding | 9,230 |  |  | 9,246 |  |  | 9,069 |
Basic earnings (loss) per share | $ | (5.21 | ) |  | $ | 6.96 |  |  | $ | 1.80 |
Diluted earnings (loss) per share | $ | (5.21 | ) |  | $ | 6.81 |  |  | $ | 1.77 |
(1) Basic and diluted earnings per share are equivalent for the fiscal 2018, due to net losses for the period, and all outstanding share-based awards would be antidilutive. For fiscal years 2018, 2017, and 2016, we excluded 194,222, 80,000, and 289,333 unvested (or unexercised, in the case of options) share-based awards, respectively, from the diluted earnings per share calculation because they were either anti-dilutive or “out of the money”. Outstanding share based awards not included in diluted earnings per share consisted of the following securities:
| Fiscal Year Ended
| December 29, 2018 |  | December 30, 2017 |  | December 31, 2016
Unvested restricted stock awards | — |  |  | — |  |  | 78,333 |
Performance shares | 58,818 |  |  | — |  |  | 67,000 |
Restricted stock units | 135,404 |  |  | 5,000 |  |  | 69,000 |
Unexercised stock options outstanding | — |  |  | 75,000 |  |  | 75,000 |
Total excluded from diluted earnings per share | 194,222 |  |  | 80,000 |  |  | 289,333 |

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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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