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EARNINGS PER SHARE (Tables) | 6 Months Ended
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Jun. 25, 2022
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:
|  | 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 | )

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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 https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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