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EARNINGS PER COMMON SHARE | 3 Months Ended
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Jan. 01, 2022
Earnings Per Share [Abstract] |
EARNINGS PER COMMON SHARE | EARNINGS PER COMMON SHARE The following table presents information necessary to calculate basic and diluted income per Common Share.
| Three Months Ended |  |
| January 1, 2022 |  | January 2, 2021 |  |  |  |
Income (loss) from continuing operations | $ | (50.0) |  |  | $ | 25.2 |  |  |  |  |
Net income attributable to noncontrolling interest | — |  |  | (0.8) |  |  |  |  |
Income (loss) attributable to controlling interest from continuing operations | (50.0) |  |  | 24.4 |  |  |  |  |
Income (loss) from discontinued operations, net of tax | — |  |  | — |  |  |  |  |
Net income (loss) attributable to controlling interest | $ | (50.0) |  |  | $ | 24.4 |  |  |  |  |
Basic income (loss) per common share: |  |  |  |  |  |  |
Weighted-average common shares outstanding during the period | 55.4 |  |  | 55.7 |  |  |  |  |
Income (loss) from continuing operations | $ | (0.90) |  |  | $ | 0.44 |  |  |  |  |
Income (loss) from discontinued operations | — |  |  | — |  |  |  |  |
Basic net income (loss) per common share | $ | (0.90) |  |  | $ | 0.44 |  |  |  |  |
Diluted income (loss) per common share: |  |  |  |  |  |  |
Weighted-average common shares outstanding during the period | 55.4 |  |  | 55.7 |  |  |  |  |
Dilutive potential common shares | — |  |  | 1.4 |  |  |  |  |
Weighted-average common shares outstanding during the period plus dilutive potential common shares | 55.4 |  |  | 57.1 |  |  |  |  |
Income (loss) from continuing operations | $ | (0.90) |  |  | $ | 0.43 |  |  |  |  |
Income (loss) from discontinued operations | — |  |  | — |  |  |  |  |
Diluted net income (loss) per common share | $ | (0.90) |  |  | $ | 0.43 |  |  |  |  |
Diluted average common shares used in the diluted loss per common share calculation for the three months ended January 1, 2022 were 55.4 million, which excluded 1.3 million dilutive potential Common Shares because the effect of their inclusion would be anti-dilutive as the Company incurred a net loss for the three months ended January 1, 2022. Diluted average common shares used in the diluted income per common share calculation for the three months ended January 2, 2021 were 57.1 million, which included 1.4 million dilutive potential Common Shares. Stock options with exercise prices greater than the average market price of the underlying Common Shares are excluded from the computation of diluted income per Common Share because they are out-of-the-money and the effect of their inclusion would be anti-dilutive. For the three months ended January 1, 2022, the average number of out-of-the-money options was 0.2 million. There were no out-of-the-money options for the three months ended January 2, 2021.

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