XML 22 R10.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

EARNINGS PER SHARE | 3 Months Ended
--- | ---
Mar. 30, 2024
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE The following table reconciles net earnings (loss) and the weighted-average shares outstanding used to calculate basic and diluted earnings (loss) per share of common stock for the three months ended March 30, 2024 and April 1, 2023:
|  |  | Year-to-Date
|  |  |  |  | 2024 |  | 2023
Numerator (in millions): |  |  |  |  |  |  |
Net earnings (loss) |  |  |  |  | $ | 19.5 |  |  | $ | (187.8) |
Denominator (in thousands): |  |  |  |  |  |  |
Basic weighted-average shares outstanding |  |  |  |  | 150,235 |  |  | 149,574 |
Dilutive effect of stock contracts and awards |  |  |  |  | 706 |  |  | — |
Diluted weighted-average shares outstanding |  |  |  |  | 150,941 |  |  | 149,574 |
Earnings (loss) per share of common stock: |  |  |  |  |  |  |
Basic |  |  |  |  | $ | 0.13 |  |  | $ | (1.26) |
Diluted |  |  |  |  | $ | 0.13 |  |  | $ | (1.26) |
The following weighted-average stock options were not included in the computation of weighted-average diluted shares outstanding because the effect would be anti-dilutive (in thousands):
|  |  | Year-to-Date
|  |  |  |  | 2024 |  | 2023
Number of stock options |  |  |  |  | 4,995 |  |  | 5,735 |
In March 2015, the Company entered into a forward share purchase contract with a financial institution counterparty for 3,645,510 shares of common stock. The contract obligates the Company to pay $350.0 million, plus an additional amount related to the forward component of the contract. In November 2022, the Company amended the forward share purchase contract and updated the final settlement date to November 2024, or earlier at the Company's option. The reduction of common shares outstanding was recorded at the inception of the forward share purchase contract in March 2015 and factored into the calculation of weighted-average shares outstanding at that time.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration