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EARNINGS (LOSS) PER SHARE | 6 Months Ended
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Jun. 26, 2021
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | NOTE 7. EARNINGS (LOSS) PER SHARE The following table represents the calculation of earnings (loss) per common share – basic and diluted:
|  | Second Quarter |  |  | First Half |
(In millions, except per share amounts) |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Basic Earnings Per Share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (88 | ) |  | $ | (439 | ) |  | $ | (35 | ) |  | $ | (394 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares outstanding |  |  | 54 |  |  |  | 53 |  |  |  | 54 |  |  |  | 53 |
Basic loss per share |  | $ | (1.62 | ) |  | $ | (8.34 | ) |  | $ | (0.65 | ) |  | $ | (7.46 | )
Diluted Earnings Per Share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (88 | ) |  | $ | (439 | ) |  | $ | (35 | ) |  | $ | (394 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares outstanding |  |  | 54 |  |  |  | 53 |  |  |  | 54 |  |  |  | 53 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options and restricted stock |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 1 |
Diluted weighted-average shares outstanding |  |  | 54 |  |  |  | 54 |  |  |  | 54 |  |  |  | 54 |
Diluted loss per share |  | $ | (1.62 | ) |  | $ | (8.19 | ) |  | $ | (0.65 | ) |  | $ | (7.31 | )
Awards of stock options and nonvested shares representing additional shares of outstanding common stock were 2 million in both the second quarter and first half of 2021, and less than 1 million in both the second quarter and first half of 2020, but were not included in the computation of diluted weighted-average shares outstanding because their effect would have been antidilutive.

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