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Earnings Per Share | 6 Months Ended
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Jul. 03, 2021
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share Basic net earnings per share is calculated by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing net income by the weighted average number of shares assuming dilution. Dilutive common shares outstanding is computed using the Treasury Stock method and, in periods of income, reflects the additional shares that would be outstanding if dilutive stock options were exercised for common shares during the period. Earnings per share (in millions, except share data):
|  | Three Months Ended |  | Six Months Ended
|  | July 3, 2021 |  | June 27, 2020 |  | July 3, 2021 |  | June 27, 2020
Basic: |  |  |  |  |  |  |  |
Net income |  | $ | 219 |  |  | $ | 100 |  |  | $ | 447 |  |  | $ | 189 |
Weighted-average shares outstanding |  | 53,449,143 |  |  | 53,188,486 |  |  | 53,460,495 |  |  | 53,533,116 |
Basic earnings per share |  | $ | 4.10 |  |  | $ | 1.87 |  |  | $ | 8.36 |  |  | $ | 3.53 |
Diluted: |  |  |  |  |  |  |  |
Net income |  | $ | 219 |  |  | $ | 100 |  |  | $ | 447 |  |  | $ | 189 |
Weighted-average shares outstanding |  | 53,449,143 |  |  | 53,188,486 |  |  | 53,460,495 |  |  | 53,533,116 |
Dilutive shares |  | 459,152 |  |  | 487,244 |  |  | 469,608 |  |  | 522,208 |
Diluted weighted-average shares outstanding |  | 53,908,295 |  |  | 53,675,730 |  |  | 53,930,103 |  |  | 54,055,324 |
Diluted earnings per share |  | $ | 4.07 |  |  | $ | 1.85 |  |  | $ | 8.29 |  |  | $ | 3.49 |
Anti-dilutive options to purchase common shares are excluded from diluted earnings per share calculations. No shares were anti-dilutive for the three and six months ended July 3, 2021. 108,950 and 89,091 shares were anti-dilutive for the three and six months ended June 27, 2020, respectively.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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