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CAPITAL STOCK (Tables)

12 Months Ended

Dec. 28, 2024

Equity [Abstract]

Schedule of Net Earnings (Loss) Attributable to Common Shareowners and Weighted-Average Shares outstanding

The following table reconciles net earnings (loss) attributable to common shareowners and the weighted-average shares outstanding used to calculate basic and diluted earnings (loss) per share for the fiscal years ended December 28, 2024, December 30, 2023, and December 31, 2022.

			2024						2023						2022
Numerator (in millions):
Net Earnings (Loss) from Continuing Operations Attributable to Common Shareowners			$	286.3					$	(281.7)					$	164.3
Add: Contract adjustment payments accretion			—						—						1.2
Net Earnings (Loss) from Continuing Operations Attributable to Common Shareowners - Diluted			286.3						(281.7)						165.5
Net earnings (loss) from discontinued operations			8.0						(28.8)						892.4
Net Earnings (Loss) Attributable to Common Shareowners - Diluted			$	294.3					$	(310.5)					$	1,057.9

			2024						2023						2022
Denominator (in thousands):
Basic weighted-average shares outstanding			150,485						149,751						148,170
Dilutive effect of stock contracts and awards			812						—						8,383
Diluted weighted-average shares outstanding			151,297						149,751						156,553

Earnings (loss) per share of common stock:
Basic earnings (loss) per share of common stock:
Continuing operations			$	1.90					$	(1.88)					$	1.11
Discontinued operations			$	0.05					$	(0.19)					$	6.02
Total basic earnings (loss) per share of common stock			$	1.96					$	(2.07)					$	7.13
Diluted earnings (loss) per share of common stock:
Continuing operations			$	1.89					$	(1.88)					$	1.06
Discontinued operations			$	0.05					$	(0.19)					$	5.70
Total diluted earnings (loss) per share of common stock			$	1.95					$	(2.07)					$	6.76

Schedule of Weighted-Average Stock Options Not Included in Computation of Weighted-Average Diluted Shares Outstanding

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):

			2024						2023						2022
Number of stock options			5,141						5,406						4,019

Schedule of Common Stock Share Activity

Common stock activity for 2024, 2023 and 2022 was as follows:

			2024						2023						2022
Outstanding, beginning of year			153,620,088						152,983,530						163,328,776
Issued from treasury			960,437						817,110						5,711,974
Returned to treasury			(207,592)						(180,552)						(16,057,220)
Outstanding, end of year			154,372,933						153,620,088						152,983,530
Shares subject to the forward share purchase contract			(3,645,510)						(3,645,510)						(3,645,510)
Outstanding, less shares subject to the forward share purchase contract			150,727,423						149,974,578						149,338,020

Schedule of Common Stock Shares Reserved for Issuance Under Various Employee and Director Stock Plans

Common stock shares reserved for issuance under various employee and director stock plans at December 28, 2024 and December 30, 2023 are as follows:

 

			2024						2023
Employee stock purchase plan			921,982						1,070,126
Other stock-based compensation plans			5,869,501						6,161,350
Total shares reserved			6,791,483						7,231,476

Schedule of Weighted Average Assumptions Used to Value Grants

The following weighted-average assumptions were used to value grants made in 2024, 2023 and 2022:

			2024						2023						2022
Average expected volatility			38.0		%				39.1		%				38.6		%
Dividend yield			3.6		%				3.6		%				3.7		%
Risk-free interest rate			4.2		%				4.0		%				3.2		%
Expected life			5.0 years						5.0 years						4.2 years
Fair value per option			$	25.25					$	26.05					$	20.00
Weighted-average vesting period			2.0 years						1.9 years						1.7 years

Schedule of Number of Stock Options and Weighted-average Exercise Prices

The number of stock options and weighted-average exercise prices as of December 28, 2024 are as follows:

			Options						Price
Outstanding, December 30, 2023			5,490,848						$	133.22
Granted			832,331						89.34
Exercised			(163,179)						89.19
Forfeited			(241,429)						125.24
Outstanding, December 28, 2024			5,918,571						$	128.59
Exercisable, December 28, 2024			4,339,550						$	140.93

Schedule of Outstanding and Exercisable Stock Option

Outstanding and exercisable stock option information at December 28, 2024 follows:

			Outstanding Stock Options																		Exercisable Stock Options
Exercise Price Ranges			Options						Weighted- Average Remaining Contractual Life						Weighted- Average Exercise Price						Options						Weighted- Average Remaining Contractual Life						Weighted- Average Exercise Price
$100.00 and below			2,183,691						8.46						$	86.00					719,340						8.04						$	82.46
100.01 — 165.00			2,055,411						3.38						131.22						2,040,881						3.35						131.38
165.01 — higher			1,679,469						5.30						180.74						1,579,329						5.19						179.90
			5,918,571						5.80						$	128.59					4,339,550						4.80						$	140.93

Schedule of Non-Vested Restricted Share Units and Activity Pertaining to Maximum Number of Shares that may be Issued

A summary of non-vested restricted share units and award activity as of December 28, 2024, and changes during the year then ended is as follows:

			Restricted Share Units & Awards						Weighted-Average Grant Date Fair Value
Non-vested at December 30, 2023			1,490,924						$	100.24
Granted			750,126						89.66
Vested			(585,745)						99.85
Forfeited			(175,322)						96.78
Non-vested at December 28, 2024			1,479,983						$	95.44

A summary of the activity pertaining to the maximum number of shares that may be issued is as follows:

			LTIP Units						Weighted-Average Grant Date Fair Value
Non-vested at December 30, 2023			731,128						$	119.90
Granted			468,228						80.86
Vested			(15,562)						163.45
Forfeited			(164,646)						149.63
Non-vested at December 28, 2024			1,019,148						$	96.50

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