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Earnings Per Share (Notes) | 12 Months Ended
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Jan. 02, 2021
Earnings Per Share [Abstract] |
Earnings Per Share [Text Block] | EARNINGS PER SHAREThe Company calculates earnings per share in accordance with FASB ASC Topic 260, Earnings Per Share (“ASC 260”). ASC 260 addresses whether instruments granted in share-based payment transactions are participating securities prior to vesting, and, therefore, need to be included in the earnings allocation in computing earnings per share under the two-class method. Under the guidance in ASC 260, the Company’s unvested share-based payment awards that contain non-forfeitable rights to dividends, whether paid or unpaid, are participating securities and must be included in the computation of earnings per share pursuant to the two-class method. The following table sets forth the computation of basic and diluted earnings per share:
| Fiscal Year
(In millions, except per share data) | 2020 |  | 2019 |  | 2018
Numerator: |  |  |  |  |
Net earnings (loss) attributable to Wolverine World Wide, Inc. | $ | (136.9) |  |  | $ | 128.5 |  |  | $ | 200.1 |
Less: net earnings attributed to participating share-based awards | (0.8) |  |  | (2.6) |  |  | (7.5) |
Net earnings (loss) used to calculate basic earnings per share | (137.7) |  |  | 125.9 |  |  | 192.6 |
Adjustment for earnings reallocated to participating share-based awards | — |  |  | 0.1 |  |  | 1.8 |
Net earnings (loss) used to calculate diluted earnings per share | $ | (137.7) |  |  | $ | 126.0 |  |  | $ | 194.4 |
Denominator: |  |  |  |  |
Weighted average shares outstanding | 81.8 |  |  | 85.7 |  |  | 94.8 |
Adjustment for unvested restricted common stock | (0.8) |  |  | (0.6) |  |  | (1.8) |
Shares used to calculate basic earnings per share | 81.0 |  |  | 85.1 |  |  | 93.0 |
Effect of dilutive share-based awards | — |  |  | 2.1 |  |  | 2.0 |
Shares used to calculate diluted earnings per share | 81.0 |  |  | 87.2 |  |  | 95.0 |
Net earnings (loss) per share: |  |  |  |  |
Basic | $ | (1.70) |  |  | $ | 1.48 |  |  | $ | 2.07 |
Diluted | $ | (1.70) |  |  | $ | 1.44 |  |  | $ | 2.05 |
For fiscal years 2020, 2019 and 2018, 1,179,088, 133,505 and 25,230 outstanding stock options, respectively, have not been included in the denominator for the computation of diluted earnings per share because they were anti-dilutive. The Company has 2,000,000 authorized shares of $1 par value preferred stock, none of which was issued or outstanding as of January 2, 2021 or December 28, 2019. The Company has designated 150,000 shares of preferred stock as Series A junior participating preferred stock and 500,000 shares of preferred stock as Series B junior participating preferred stock for possible future issuance. The Company repurchased $21.0 million, $319.2 million and $174.7 million of Company common stock in fiscal years 2020, 2019 and 2018, respectively, under stock repurchase plans. In addition to the stock repurchase program activity, the Company acquired $24.8 million, $16.9 million and $8.8 million of Company common stock in fiscal years 2020, 2019 and 2018, respectively, in connection with employee transactions related to stock incentive plans. On February 11, 2019, the Company's Board of Directors approved a common stock repurchase program that authorizes the repurchase of an additional $400.0 million of common stock over a four year period incremental to amounts remaining under the previous repurchase program. The annual amount of stock repurchases is restricted under the terms of the Company's Credit Agreement.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 + Details
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