XML 23 R13.htm IDEA: XBRL DOCUMENT
v3.22.2

EARNINGS PER SHARE | 6 Months Ended
--- | ---
Jun. 25, 2022
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | NOTE 6. EARNINGS 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) |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Basic Earnings (Loss) Per Share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income from continuing operations |  | $ | 20 |  |  | $ | 20 |  |  | $ | 75 |  |  | $ | 82 |
Income (loss) from discontinued operations, net of tax |  |  | 7 |  |  |  | (108 | ) |  |  | 7 |  |  |  | (117 | )
Net income (loss) |  | $ | 27 |  |  | $ | (88 | ) |  | $ | 82 |  |  | $ | (35 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares outstanding |  |  | 49 |  |  |  | 54 |  |  |  | 49 |  |  |  | 54 |
Basic earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  | $ | 0.40 |  |  | $ | 0.36 |  |  | $ | 1.54 |  |  | $ | 1.53 |
Discontinued operations |  |  | 0.15 |  |  |  | (1.98 | ) |  |  | 0.14 |  |  |  | (2.18 | )
Net basic earnings (loss) per share |  | $ | 0.55 |  |  | $ | (1.62 | ) |  | $ | 1.68 |  |  | $ | (0.65 | )
Diluted Earnings (Loss) Per Share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income from continuing operations |  | $ | 20 |  |  | $ | 20 |  |  | $ | 75 |  |  | $ | 82 |
Income (loss) from discontinued operations, net of tax |  |  | 7 |  |  |  | (108 | ) |  |  | 7 |  |  |  | (117 | )
Net income (loss) |  | $ | 27 |  |  | $ | (88 | ) |  | $ | 82 |  |  | $ | (35 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares outstanding |  |  | 49 |  |  |  | 54 |  |  |  | 49 |  |  |  | 54 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options and restricted stock |  |  | 1 |  |  |  | 2 |  |  |  | 1 |  |  |  | 2 |
Diluted weighted-average shares outstanding |  |  | 50 |  |  |  | 56 |  |  |  | 50 |  |  |  | 56 |
Diluted earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  | $ | 0.39 |  |  | $ | 0.35 |  |  | $ | 1.49 |  |  | $ | 1.47 |
Discontinued operations |  |  | 0.15 |  |  |  | (1.93 | ) |  |  | 0.14 |  |  |  | (2.10 | )
Net diluted earnings (loss) per share |  | $ | 0.54 |  |  | $ | (1.58 | ) |  | $ | 1.63 |  |  | $ | (0.63 | )
Awards of stock options and nonvested shares representing additional shares of outstanding common stock were less than 1 million in both the second quarter and first half of 2022, and less than 1 million in both the second quarter and first half of 2021, but they were not included in the computation of diluted weighted-average shares outstanding because their effect would have been antidilutive.

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 https://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 https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://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 https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration