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Per Share Data
9 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
Per Share Data
8.
Per Share Data

Basic earnings (net loss) per share is calculated utilizing the weighted average number of common shares outstanding during the periods presented. Diluted earnings (net loss) per share is calculated utilizing the weighted average number of common shares outstanding during the periods presented adjusted for the effect of dilutive common stock equivalents.

The following table sets forth the computation of basic and diluted earnings (net loss) per share:

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

September 30,

 

 

October 1,

 

 

September 30,

 

 

October 1,

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

$

43,731

 

 

$

(206,036

)

 

$

(24,120

)

 

$

(221,087

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock outstanding

 

78,979

 

 

 

70,383

 

 

 

75,861

 

 

 

70,258

 

Effect of dilutive common stock equivalents

 

1,659

 

 

 

 

 

 

 

 

 

 

Weighted average diluted common shares outstanding

 

80,638

 

 

 

70,383

 

 

 

75,861

 

 

 

70,258

 

Earnings (net loss) per share

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.55

 

 

$

(2.93

)

 

$

(0.32

)

 

$

(3.15

)

Diluted

$

0.54

 

 

$

(2.93

)

 

$

(0.32

)

 

$

(3.15

)

The number of anti-dilutive common stock equivalents excluded from the calculation of the weighted average number of common shares for diluted earnings (net loss) per share was 6,770 and 9,229 for the three months ended September 30, 2023 and October 1, 2022, respectively. The number of anti-dilutive common stock equivalents excluded from the calculation of the weighted average number of common shares for diluted net loss per share was 9,341 and 8,307 for the nine months ended September 30, 2023 and October 1, 2022, respectively.