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EARNINGS PER SHARE | 6 Months Ended
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Jun. 29, 2024
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE The following table reconciles net (loss) earnings and the weighted-average shares outstanding used to calculate basic and diluted (loss) earnings per share of common stock for the three and six months ended June 29, 2024 and July 1, 2023:
| Second Quarter |  | Year-to-Date
| 2024 |  | 2023 |  | 2024 |  | 2023
Numerator (in millions): |  |  |  |  |  |  |
Net (loss) earnings from continuing operations | $ | (19.2) |  |  | $ | 177.5 |  |  | $ | 0.3 |  |  | $ | (10.3) |
Net earnings (loss) from discontinued operations | 8.0 |  |  | (0.5) |  |  | 8.0 |  |  | (0.5) |
Net (Loss) Earnings | $ | (11.2) |  |  | $ | 177.0 |  |  | $ | 8.3 |  |  | $ | (10.8) |
| Second Quarter |  | Year-to-Date
| 2024 |  | 2023 |  | 2024 |  | 2023
Denominator (in thousands): |  |  |  |  |  |  |
Basic weighted-average shares outstanding | 150,394 |  |  | 149,687 |  |  | 150,311 |  |  | 149,631 |
Dilutive effect of stock contracts and awards | — |  |  | 540 |  |  | 701 |  |  | — |
Diluted weighted-average shares outstanding | 150,394 |  |  | 150,227 |  |  | 151,012 |  |  | 149,631 |
| Second Quarter |  | Year-to-Date
| 2024 |  | 2023 |  | 2024 |  | 2023
(Loss) earnings per share of common stock: |  |  |  |  |  |  |
Basic (loss) earnings per share of common stock: |  |  |  |  |  |  |
Continuing operations | $ | (0.13) |  |  | $ | 1.19 |  |  | $ | — |  |  | $ | (0.07) |
Discontinued operations | $ | 0.05 |  |  | $ | — |  |  | $ | 0.05 |  |  | $ | — |
Total basic (loss) earnings per share of common stock | $ | (0.07) |  |  | $ | 1.18 |  |  | $ | 0.06 |  |  | $ | (0.07) |
Diluted (loss) earnings per share of common stock: |  |  |  |  |  |  |
Continuing operations | $ | (0.13) |  |  | $ | 1.18 |  |  | $ | — |  |  | $ | (0.07) |
Discontinued operations | $ | 0.05 |  |  | $ | — |  |  | $ | 0.05 |  |  | $ | — |
Total diluted (loss) earnings per share of common stock | $ | (0.07) |  |  | $ | 1.18 |  |  | $ | 0.05 |  |  | $ | (0.07) |
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):
| Second Quarter |  | Year-to-Date
| 2024 |  | 2023 |  | 2024 |  | 2023
Number of stock options | 5,739 |  |  | 5,857 |  |  | 5,367 |  |  | 5,796 |
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 June 2024, the Company amended the settlement date to June 2026, 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.

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