EARNINGS PER COMMON SHARE

9 Months Ended

Jul. 02, 2022

The following table presents information necessary to calculate basic and diluted income per Common Share.


	Three Months Ended				Nine Months Ended
	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021

Income (loss) from continuing operations	$	(443.9)	$	229.8	$	(217.5)	$	566.0
Net income attributable to noncontrolling interest	—		—		—		(0.9)
Income (loss) attributable to controlling interest from continuing operations	(443.9)		229.8		(217.5)		565.1
Loss from discontinued operations, net of tax	—		(3.9)		—		(4.7)
Net income (loss) attributable to controlling interest	$	(443.9)	$	225.9	$	(217.5)	$	560.4
Basic income (loss) per common share:
Weighted-average common shares outstanding during the period	55.4		55.8		55.6		55.7
Income (loss) from continuing operations	$	(8.01)	$	4.12	$	(3.91)	$	10.15
Loss from discontinued operations	—		(0.07)		—		(0.09)
Basic net income (loss) per common share	$	(8.01)	$	4.05	$	(3.91)	$	10.06
Diluted income (loss) per common share:
Weighted-average common shares outstanding during the period	55.4		55.8		55.6		55.7
Dilutive potential common shares	—		1.6		—		1.4
Weighted-average common shares outstanding during the period plus dilutive potential common shares	55.4		57.4		55.6		57.1
Income (loss) from continuing operations	$	(8.01)	$	4.00	$	(3.91)	$	9.90
Loss from discontinued operations	—		(0.06)		—		(0.09)
Diluted net income (loss) per common share	$	(8.01)	$	3.94	$	(3.91)	$	9.81

Diluted average common shares used in the diluted loss per common share calculation for the three and nine months ended July 2, 2022 were 55.4 million and 55.6 million, respectively, which excluded potential Common Shares of 0.4 million and 0.6 million, respectively, because the effect of their inclusion would be anti-dilutive as the Company incurred a net loss for the three and nine months ended July 2, 2022. Diluted average common shares used in the diluted loss per common share calculation for the three and nine months ended July 3, 2021 were 57.4 million and 57.1 million, respectively, which included dilutive potential Common Shares of 1.6 million and 1.4 million, respectively.

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 and nine months ended July 2, 2022, the average number of out-of-the-money options was 0.2 million. For the three and nine months ended July 3, 2021, the average number of out-of-the-money options was 0.2 million and 0.1 million, respectively.