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EARNINGS PER SHARE | 9 Months Ended
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Sep. 24, 2016
EARNINGS PER SHARE | NOTE 7. EARNINGS PER SHARE The following table represents the calculation of net earnings (loss) per common share – basic and diluted:
|  | Third Quarter |  |  | Year-to-Date |
(In millions, except per share amounts) |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Basic Earnings Per Share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income from continuing operations |  | $ | 330 |  |  | $ | 42 |  |  | $ | 624 |  |  | $ | 60 |
Loss from discontinued operations, net of tax |  |  | (286 | ) |  |  | (36 | ) |  |  | (324 | ) |  |  | (67 | )
Net income (loss) |  | $ | 44 |  |  | $ | 6 |  |  | $ | 300 |  |  | $ | (7 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares outstanding |  |  | 535 |  |  |  | 548 |  |  |  | 545 |  |  |  | 546 |
Basic earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  | $ | 0.62 |  |  | $ | 0.08 |  |  | $ | 1.15 |  |  | $ | 0.11 |
Discontinued operations |  |  | (0.54 | ) |  |  | (0.07 | ) |  |  | (0.60 | ) |  |  | (0.12 | )
Net earnings (loss) |  | $ | 0.08 |  |  | $ | 0.01 |  |  | $ | 0.55 |  |  | $ | (0.01 | )
Diluted Earnings Per Share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income from continuing operations |  | $ | 330 |  |  | $ | 42 |  |  | $ | 624 |  |  | $ | 60 |
Loss from discontinued operations, net of tax |  |  | (286 | ) |  |  | (36 | ) |  |  | (324 | ) |  |  | (67 | )
Net income (loss) |  | $ | 44 |  |  | $ | 6 |  |  | $ | 300 |  |  | $ | (7 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares outstanding |  |  | 535 |  |  |  | 548 |  |  |  | 545 |  |  |  | 546 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options and restricted stock |  |  | 10 |  |  |  | 8 |  |  |  | 8 |  |  |  | 9 |
Diluted weighted-average shares outstanding |  |  | 545 |  |  |  | 556 |  |  |  | 553 |  |  |  | 555 |
Diluted earnings (loss) per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  | $ | 0.61 |  |  | $ | 0.08 |  |  | $ | 1.13 |  |  | $ | 0.11 |
Discontinued operations |  |  | (0.54 | ) |  |  | (0.07 | ) |  |  | (0.60 | ) |  |  | (0.12 | )
Net earnings (loss) |  | $ | 0.08 |  |  | $ | 0.01 |  |  | $ | 0.54 |  |  | $ | (0.01 | )
Awards of stock options and nonvested shares representing approximately 6 million and 7 million additional shares of common stock were outstanding for the third quarter and year-to-date 2016, respectively, and 3 million and less than 1 million for the third quarter and year-to-date 2015, respectively, but were not included in the computation of diluted weighted-average shares outstanding because their effect would have been antidilutive. Additionally, the Stock options and restricted stock amounts are not included in the Diluted Earnings Per Share amounts of the Loss from discontinued operations, net of tax and the year-to-date 2015 Net earnings (loss) as the impacts would have been antidilutive.

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