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EARNINGS (LOSS) PER SHARE (Tables) | 9 Months Ended
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Sep. 25, 2021
Earnings Per Share [Abstract] |
Calculation of Earnings (Loss) Per Common 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) |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Basic Earnings Per Share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) from continuing operations |  | $ | 73 |  |  | $ | 34 |  |  | $ | 155 |  |  | $ | (94 | )
Income (loss) from discontinued operations, net of tax |  |  | 28 |  |  |  | 23 |  |  |  | (89 | ) |  |  | (243 | )
Net income (loss) |  | $ | 101 |  |  | $ | 57 |  |  | $ | 66 |  |  | $ | (337 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares outstanding |  |  | 53 |  |  |  | 53 |  |  |  | 54 |  |  |  | 53 |
Basic earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  | $ | 1.38 |  |  | $ | 0.64 |  |  | $ | 2.89 |  |  | $ | (1.78 | )
Discontinued operations |  |  | 0.54 |  |  |  | 0.43 |  |  |  | (1.65 | ) |  |  | (4.62 | )
Net earnings (loss) per share |  | $ | 1.92 |  |  | $ | 1.07 |  |  | $ | 1.24 |  |  | $ | (6.40 | )
Diluted Earnings Per Share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) from continuing operations |  | $ | 73 |  |  | $ | 34 |  |  | $ | 155 |  |  | $ | (94 | )
Income (loss) from discontinued operations, net of tax |  |  | 28 |  |  |  | 23 |  |  |  | (89 | ) |  |  | (243 | )
Net income (loss) |  | $ | 101 |  |  | $ | 57 |  |  | $ | 66 |  |  | $ | (337 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares outstanding |  |  | 53 |  |  |  | 53 |  |  |  | 54 |  |  |  | 53 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options and restricted stock |  |  | 2 |  |  |  | 1 |  |  |  | 2 |  |  |  | — |
Diluted weighted-average shares outstanding |  |  | 55 |  |  |  | 54 |  |  |  | 56 |  |  |  | 53 |
Diluted earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  | $ | 1.33 |  |  | $ | 0.63 |  |  | $ | 2.79 |  |  | $ | (1.78 | )
Discontinued operations |  |  | 0.52 |  |  |  | 0.41 |  |  |  | (1.60 | ) |  |  | (4.62 | )
Net diluted earnings (loss) per share |  | $ | 1.85 |  |  | $ | 1.04 |  |  | $ | 1.19 |  |  | $ | (6.40 | )

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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