Quarterly report pursuant to Section 13 or 15(d)

(Loss) Earnings Per Share

v3.19.3.a.u2
(Loss) Earnings Per Share
9 Months Ended
Nov. 02, 2019
(Loss) Earnings Per Share  
(Loss) Earnings Per Share

4. (Loss) Earnings Per Share

Basic (loss) earnings per common share is computed by dividing net (loss) earnings by the weighted-average common shares outstanding during the period.  Diluted (loss) earnings per common share is calculated using the treasury stock method.  Basic and diluted (loss) earnings per common share are computed using the actual net (loss) earnings and the actual weighted-average common shares outstanding rather than the rounded numbers presented within our condensed consolidated statement of (loss) earnings and the accompanying notes.  As a result, it may not be possible to recalculate (loss) earnings per common share in our condensed consolidated statement of (loss) earnings and the accompanying notes. The following table sets forth the computation of basic and diluted (loss) earnings per common share (in thousands, except per share amounts):

For the Three Months Ended

For the Nine Months Ended

November 2,

November 3,

November 2,

November 3,

    

2019

    

2018

    

2019

    

2018

 

Numerator

Net earnings from continuing operations

$

27,788

$

34,787

$

63,924

$

94,797

Loss from discontinued operations, net of tax

 

(117,378)

 

(20,912)

 

(112,106)

 

(17,775)

Net (loss) earnings

$

(89,590)

$

13,875

$

(48,182)

$

77,022

Denominator

Basic weighted-average common shares outstanding

 

49,803

 

50,000

 

50,210

 

49,766

Dilutive effect of share-based awards

 

102

 

722

 

162

 

998

Diluted weighted-average common shares outstanding

 

49,905

 

50,722

 

50,372

 

50,764

Net earnings from continuing operations per common share:

Basic

$

0.56

$

0.70

$

1.27

$

1.90

Diluted

$

0.56

$

0.69

$

1.27

$

1.87

Net loss from discontinued operations per common share:

Basic

$

(2.36)

$

(0.42)

$

(2.23)

$

(0.36)

Diluted

$

(2.35)

$

(0.41)

$

(2.23)

$

(0.35)

Net (loss) earnings per common share:

Basic

$

(1.80)

$

0.28

$

(0.96)

$

1.55

Diluted

$

(1.80)

$

0.27

$

(0.96)

$

1.52

For the three and nine months ended November 2, 2019, 4.5 million and 3.7 million anti-dilutive shares of common stock were excluded from the calculation of diluted (loss) earnings per common share, respectively. For the three and nine months ended November 3, 2018, 0.8 million and 0.6 million anti-dilutive shares of common stock were excluded from the calculation of diluted (loss) earnings per common share, respectively.