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EARNINGS PER SHARE

3 Months Ended

Apr. 01, 2017

EARNINGS PER SHARE

NOTE 7. EARNINGS PER SHARE

The following table represents the calculation of net earnings (loss) per common share – basic and diluted:

		First Quarter
(In millions, except per share amounts)		2017				2016
Basic Earnings Per Share
Numerator:
Net income from continuing operations		$	74			$	62
Income (loss) from discontinued operations, net of tax			42				(16	)
Net income		$	116			$	46
Denominator:
Weighted-average shares outstanding			515				549
Basic earnings (loss) per share:
Continuing operations		$	0.14			$	0.11
Discontinued operations			0.08				(0.03	)
Net earnings per share		$	0.22			$	0.08
Diluted Earnings Per Share
Numerator:
Net income from continuing operations		$	74			$	62
Income (loss) from discontinued operations, net of tax			42				(16	)
Net income		$	116			$	46
Denominator:
Weighted-average shares outstanding			515				549
Effect of dilutive securities:
Stock options and restricted stock			17				6
Diluted weighted-average shares outstanding			532				555
Diluted earnings (loss) per share:
Continuing operations		$	0.14			$	0.11
Discontinued operations			0.08				(0.03	)
Net diluted earnings per share		$	0.22			$	0.08

Awards of stock options and nonvested shares representing approximately 4 million and 6 million additional shares of common stock were outstanding for the first quarters of 2017 and 2016, respectively, but were not included in the computation of diluted weighted-average shares outstanding because their effect would have been antidilutive.

X

- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1278-109256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1252-109256

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=65016374&loc=d3e4984-109258

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.21)
-URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688

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