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Earnings per Share (Tables)

9 Months Ended

Mar. 27, 2021

Reconciliation of Weighted-average Shares Outstanding and Calculation of Basic and Diluted Earnings Per Share

The following is a reconciliation of the weighted-average shares outstanding and calculation of basic and diluted earnings per share:


	Three Months Ended				Nine Months Ended
	March 27, 2021		March 28, 2020		March 27, 2021		March 28, 2020
	(millions, except per share data)
Net income (loss)	$	91.7	$	(677.1)	$	634.4	$	(358.3)

Weighted-average basic shares	278.2		276.1		277.5		279.4
Dilutive securities:


Effect of dilutive securities(1)	7.4		—		4.0		—
Weighted-average diluted shares	285.6		276.1		281.5		279.4

Net income per share:
Basic	$	0.33	$	(2.45)	$	2.29	$	(1.28)
Diluted	$	0.32	$	(2.45)	$	2.25	$	(1.28)

(1) There was no dilutive effect for the three and nine months ended March 28, 2020 as the impact of these items would be anti-dilutive as a result of the net loss incurred during the period.