Before November 27, Leonard Green and Partners has to decide whether they want shares or get paid in cash 400 plus MM USD in exchange for their preferred stock. If they decide to go for the cash, there is an adjusment below the line (directly to the equity line) of said amount and a cash payment. There on there is a reduction of 34MM of preferred dividends and no dilution effect (except for the loss). If LG and P decide to go for the stock, there is a dilution of approximately 20%...(already known since the preferred where issued). The good news is that due to the rapidly revaluation of the stock, the preferred dividends where only one year! the bad news is that these preferred were issued at the worse possible moment last year...