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Earnings (Loss) per Share
3 Months Ended
Mar. 29, 2025
Earnings (Loss) per Share  
Earnings (Loss) per Share

(14)

Earnings (Loss) per Share

Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted average number of shares of common stock outstanding. Diluted earnings (loss) per share is calculated by dividing net income (loss) by the weighted average number of shares of common stock outstanding plus all additional shares of common stock that would have been outstanding if potentially dilutive shares of common stock had been issued upon the exercise of stock options or in connection with performance shares that may be earned under long-term incentive awards as of the grant date, in the case of the stock options, and as of the beginning of the period, in the case of the performance shares, using the treasury stock method. For the first quarter of 2025, there were 1,738,800 shares of common stock issuable upon the exercise of stock options excluded from the calculation of diluted weighted average shares outstanding because the effect would have been antidilutive. During periods in which we report a net loss, such as the first quarter of 2024, diluted loss per share is the same as loss per share because potentially dilutive shares of common stock are not assumed to have been issued because their effect would have been antidilutive.

The table below shows weighted average common shares outstanding for the first quarter of 2025 and the first quarter of 2024, respectively:

Thirteen Weeks Ended

    

March 29,

    

March 30,

    

2025

    

2024

Weighted average common shares outstanding:

Basic

79,168,864

78,647,625

Net effect of potentially dilutive share-based compensation awards(1)

501,495

Diluted

79,670,359

78,647,625

(1)For the first quarter of 2024, there are no potentially dilutive share-based compensation awards included in the calculation of diluted weighted average common shares outstanding, as their effect would have been antidilutive.