XML 27 R15.htm IDEA: XBRL DOCUMENT
v3.20.2

EARNINGS (LOSS) PER SHARE | 9 Months Ended
--- | ---
Sep. 26, 2020
Earnings Per Share [Abstract] |
EARNINGS (LOSS) PER SHARE | NOTE 7. EARNINGS (LOSS) PER SHARE The following table represents the calculation of earnings (loss) per common share – basic and diluted:
|  | Third Quarter |  |  | Year-to-Date |
(In millions, except per share amounts) |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Basic Earnings (Loss) Per Share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 57 |  |  | $ | 60 |  |  | $ | (337 | ) |  | $ | 44 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares outstanding |  |  | 53 |  |  |  | 55 |  |  |  | 53 |  |  |  | 54 |
Basic earnings (loss) per share |  | $ | 1.07 |  |  | $ | 1.09 |  |  | $ | (6.40 | ) |  | $ | 0.81 |
Diluted Earnings (Loss) Per Share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 57 |  |  | $ | 60 |  |  | $ | (337 | ) |  | $ | 44 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares outstanding |  |  | 53 |  |  |  | 55 |  |  |  | 53 |  |  |  | 54 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options and restricted stock |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | 1 |
Diluted weighted-average shares outstanding |  |  | 54 |  |  |  | 55 |  |  |  | 53 |  |  |  | 55 |
Diluted earnings (loss) per share |  | $ | 1.04 |  |  | $ | 1.09 |  |  | $ | (6.40 | ) |  | $ | 0.79 |
Awards of stock options and nonvested shares representing additional shares of outstanding common stock were less than 1 million in the third quarter of 2020, 2 million year-to-date 2020, 1 million in the third quarter of 2019, and less than 1 million year-to-date 2019, but were not included in the computation of diluted weighted-average shares outstanding because their effect would have been antidilutive. After obtaining approval of the Company’s shareholders on May 11, 2020, the Company’s Board of Directors determined to set a reverse stock split ratio of 1-for-10 for a reverse stock split of the Company’s outstanding shares of common stock, and a reduction in the number of authorized shares of the Company’s common stock by a corresponding ratio. The reverse stock split was effective on June 30, 2020. All share and per share amounts have been retroactively adjusted for the prior periods presented to give effect to this reverse stock split.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration