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Net Earnings Per Common Share From Continuing Operations | 9 Months Ended
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Oct. 02, 2020
Earnings Per Share [Abstract] |
Net Earnings Per Common Share From Continuing Operations | NET EARNINGS PER COMMON SHARE FROM CONTINUING OPERATIONS Basic net earnings per common share (“EPS”) from continuing operations is calculated by taking net earnings from continuing operations less the MCPS dividends divided by the weighted average number of common shares outstanding for the applicable period. Diluted net EPS from continuing operations is computed by taking net earnings from continuing operations plus the interest on the Company’s LYONs less the MCPS dividends divided by the weighted average number of common shares outstanding increased by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued and reduced by the number of shares the Company could have repurchased with the proceeds from the issuance of the potentially dilutive shares. For the three-month period ended October 2, 2020, no options to purchase shares were excluded from the diluted EPS calculation. For the nine-month period ended October 2, 2020, approximately 1 million options to purchase shares were not included in the diluted EPS calculation as the impact of their inclusion would have been anti-dilutive. For the three and nine-month periods ended September 27, 2019, no options to purchase shares were excluded from the diluted EPS calculation. Basic and diluted EPS are computed independently for each quarter and year-to-date period, which involves the use of different weighted-average share count figures relating to quarterly and annual periods. As a result, and after factoring the effect of rounding to the nearest cent per share, the sum of prior quarter-to-date EPS figures may not equal year-to-date EPS. The impact of the MCPS Shares calculated under the if-converted method was anti-dilutive, and as such 20 million shares and 16 million shares for the three and nine-month periods ended October 2, 2020, respectively, and 12 million shares and 9 million shares for the three and nine-month periods ended September 27, 2019, respectively, underlying the MCPS Shares were excluded from the diluted EPS calculation. Information related to the calculation of net earnings from continuing operations per common share is summarized as follows ($ and shares in millions, except per share amounts):
| Three-Month Period Ended |  |  |  | Nine-Month Period Ended |  |
| October 2, 2020 |  | September 27, 2019 |  | October 2, 2020 |  | September 27, 2019
Numerator: |  |  |  |  |  |  |
Net earnings from continuing operations | $ | 883.5 |  |  | $ | 630.7 |  |  | $ | 2,405.9 |  |  | $ | 1,639.4 |
MCPS dividends | (41.1) |  |  | (19.6) |  |  | (95.3) |  |  | (48.8) |
Net earnings from continuing operations attributable to common stockholders for Basic EPS | 842.4 |  |  | 611.1 |  |  | 2,310.6 |  |  | 1,590.6 |
Adjustment for interest on convertible debentures | 0.3 |  |  | 0.4 |  |  | 0.9 |  |  | 1.4 |
Net earnings from continuing operations attributable to common stockholders after assumed conversions for Diluted EPS | $ | 842.7 |  |  | $ | 611.5 |  |  | $ | 2,311.5 |  |  | $ | 1,592.0 |
Denominator: |  |  |  |  |  |  |
Weighted average common shares outstanding used in Basic EPS | 710.9 |  |  | 718.8 |  |  | 704.4 |  |  | 714.7 |
Incremental common shares from: |  |  |  |  |  |  |
Assumed exercise of dilutive options and vesting of dilutive RSUs and PSUs | 12.4 |  |  | 9.1 |  |  | 11.3 |  |  | 8.9 |
Assumed conversion of the convertible debentures | 1.0 |  |  | 1.4 |  |  | 1.1 |  |  | 1.6 |
Weighted average common shares outstanding used in Diluted EPS | 724.3 |  |  | 729.3 |  |  | 716.8 |  |  | 725.2 |
Basic EPS from continuing operations | $ | 1.18 |  |  | $ | 0.85 |  |  | $ | 3.28 |  |  | $ | 2.23 |
Diluted EPS from continuing operations | $ | 1.16 |  |  | $ | 0.84 |  |  | $ | 3.22 |  |  | $ | 2.20 |

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