Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.22.2
EARNINGS PER SHARE
 3 Months Ended
Jul. 02, 2022
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
  Three Months Ended June
(In thousands, except per share amounts) 2022 2021
Earnings (loss) per share – basic:
Income (loss) from continuing operations
 $ (55,960) $ 153,972 
Weighted average common shares outstanding
 387,563  391,351 
Earnings (loss) per share from continuing operations
 $ (0.14) $ 0.39 
Earnings (loss) per share – diluted:
Income (loss) from continuing operations
 $ (55,960) $ 153,972 
Weighted average common shares outstanding
 387,563  391,351 
Incremental shares from stock options and other dilutive securities
 —  2,777 
Adjusted weighted average common shares outstanding
 387,563  394,128 
Earnings (loss) per share from continuing operations
 $ (0.14) $ 0.39 
In the three-month period ended June 2022, the dilutive impact of outstanding options and other securities was excluded from dilutive shares as a result of the Company's net loss for the period and, as such, their inclusion would have been anti-dilutive. Outstanding options to purchase approximately 2.9 million shares were excluded from the calculation of diluted earnings per share for the three-month period ended June 2021 because the effect of their inclusion would have been anti-dilutive. In addition, 0.6 million shares of performance-based RSUs were excluded from the calculation of diluted earnings per share for the three-month period ended June 2021 because these units were not considered to be contingent outstanding shares in the period.