EARNINGS PER SHARE

3 Months Ended

Mar. 30, 2024

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.