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Earnings Per Share | 3 Months Ended
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Apr. 01, 2023
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 diluted common shares outstanding. Diluted 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 share-based compensation awards were converted into common shares during the period. Earnings per share (in millions, except share data):
| Three Months Ended |  |
| April 1, 2023 |  | April 2, 2022 |  |  |  |
Basic: |  |  |  |  |  |  |
Net income | $ | 150 |  |  | $ | 205 |  |  |  |  |
Weighted-average shares outstanding | 51,420,536 |  |  | 53,021,423 |  |  |  |  |
Basic earnings per share | $ | 2.92 |  |  | $ | 3.86 |  |  |  |  |
Diluted: |  |  |  |  |  |  |
Net income | $ | 150 |  |  | $ | 205 |  |  |  |  |
Weighted-average shares outstanding | 51,420,536 |  |  | 53,021,423 |  |  |  |  |
Dilutive shares | 327,533 |  |  | 425,317 |  |  |  |  |
Diluted weighted-average shares outstanding | 51,748,069 |  |  | 53,446,740 |  |  |  |  |
Diluted earnings per share | $ | 2.90 |  |  | $ | 3.83 |  |  |  |  |
Anti-dilutive share-based compensation awards are excluded from diluted earnings per share calculations. There were 56,291 and 40,771 shares that were anti-dilutive for the three months ended April 1, 2023 and April 2, 2022, 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 https://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 https://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 https://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 https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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