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Earnings (Loss) Per Share
 9 Months Ended
Oct. 03, 2020
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share

Note 12 – Earnings (Loss) Per Share

Outstanding nonvested restricted stock awards under the 2015 Plan contain nonforfeitable rights to dividends or dividend equivalents, which participate in undistributed earnings with common stock. These awards are classified as participating securities and are included in the calculation of basic earnings per share. Awards under the 2020 Plan do not contain nonforfeitable rights to dividends or dividend equivalents and are therefore not classified as participating securities. The dilutive impact of these awards is presented below, as applicable. Weighted average restricted stock awards that were not included in the EPS calculations because they were anti-dilutive were 87,111 and 42,139 for the 12- and 40-week periods ended October 3, 2020, respectively. There were no anti-dilutive awards in 2019. The following table sets forth the computation of basic and diluted earnings per share from continuing operations:

 

12 Weeks Ended

 

 

40 Weeks Ended

 

(In thousands, except per share amounts)

October 3, 2020

 

 

October 5, 2019

 

 

October 3, 2020

 

 

October 5, 2019

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) from continuing operations

$

 

19,952

 

 

$

 

(310

)

 

$

 

63,821

 

 

$

 

444

 

Adjustment for (earnings) loss attributable to participating securities

 

 

(494

)

 

 

 

8

 

 

 

 

(1,577

)

 

 

 

(11

)

Earnings (loss) from continuing operations used in calculating earnings per share

$

 

19,458

 

 

$

 

(302

)

 

$

 

62,244

 

 

$

 

433

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding, including participating securities

 

 

35,730

 

 

 

 

36,340

 

 

 

 

35,900

 

 

 

 

36,248

 

Adjustment for participating securities

 

 

(884

)

 

 

 

(929

)

 

 

 

(887

)

 

 

 

(906

)

Shares used in calculating basic earnings per share

 

 

34,846

 

 

 

 

35,411

 

 

 

 

35,013

 

 

 

 

35,342

 

Effect of dilutive restricted stock awards

 

 

1

 

 

 

 

—

 

 

 

 

—

 

 

 

 

—

 

Shares used in calculating diluted earnings per share

 

 

34,847

 

 

 

 

35,411

 

 

 

 

35,013

 

 

 

 

35,342

 

Basic earnings (loss) per share from continuing operations

$

 

0.56

 

 

$

 

(0.01

)

 

$

 

1.78

 

 

$

 

0.01

 

Diluted earnings (loss) per share from continuing operations

$

 

0.56

 

 

$

 

(0.01

)

 

$

 

1.78

 

 

$

 

0.01