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Earnings Per Share | 12 Months Ended
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Dec. 31, 2023
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share On December 14, 2022, 128.0 million MasterBrand common shares were distributed to Fortune Brands’ shareholders in conjunction with the Separation. For comparative purposes, fiscal 2021 has been retroactively recast to reflect the effects of the changes in equity structure resulting from the Reorganization, Separation and Distribution and assume the same basic weighted average shares. For the fiscal years ended December 31, 2023 and December 25, 2022, diluted earnings per share was computed by giving effect to all potentially dilutive stock awards that are outstanding. For years prior to the Separation, it is assumed that there are no dilutive securities as there were no stock-based awards of MasterBrand outstanding. The following table sets forth the reconciliation of the numerator and the denominator of basic earnings per share and diluted earnings per share for the fiscal years ended December 31, 2023, December 25, 2022, and December 26, 2021:
(U.S. Dollars presented in millions, except per share amounts) |  | 2023 |  | 2022 |  | 2021
Numerator: |  |  |  |  |  |
Numerator for basic and diluted earnings per share - Net income |  | $ | 182.0 |  |  | $ | 155.4 |  |  | $ | 182.6 |
Denominator: |  |  |  |  |  |
Denominator for basic earnings per share - weighted average shares outstanding |  | 127.8 |  |  | 128.0 |  |  | 128.0 |
Effect of dilutive securities - stock-based awards |  | 2.1 |  |  | 1.1 |  |  | — |
Denominator for diluted earnings per share - weighted average shares outstanding |  | 129.9 |  |  | 129.1 |  |  | 128.0 |
Earnings per share: |  |  |  |  |  |
Basic |  | $ | 1.42 |  |  | $ | 1.21 |  |  | $ | 1.43 |
Diluted |  | $ | 1.40 |  |  | $ | 1.20 |  |  | $ | 1.43 |
Approximately 0.7 million shares and 1.3 million shares were excluded from the calculation of diluted earnings per share for the years ended December 31, 2023 and December 25, 2022, respectively, because their inclusion would have been anti-dilutive.

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