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EARNINGS PER SHARE | 3 Months Ended
--- | ---
Mar. 30, 2024
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | NOTE 5. EARNINGS PER SHARE The following table represents the calculation of earnings per common share – basic and diluted:
|  | First Quarter |
(In millions, except per share amounts) |  | 2024 |  |  | 2023 |
Basic Earnings Per Share |  |  |  |  |  |
Numerator: |  |  |  |  |  |
Net income from continuing operations |  | $ | 15 |  |  | $ | 72 |
Income from discontinued operations, net of tax |  |  | — |  |  |  | — |
Net income |  | $ | 15 |  |  | $ | 72 |
Denominator: |  |  |  |  |  |
Weighted-average shares outstanding |  |  | 37 |  |  |  | 40 |
Basic earnings per share |  |  |  |  |  |
Continuing operations |  | $ | 0.42 |  |  | $ | 1.79 |
Discontinued operations |  |  | — |  |  |  | — |
Net basic earnings per share |  | $ | 0.42 |  |  | $ | 1.79 |
Diluted Earnings Per Share |  |  |  |  |  |
Numerator: |  |  |  |  |  |
Net income from continuing operations |  | $ | 15 |  |  | $ | 72 |
Income from discontinued operations, net of tax |  |  | — |  |  |  | — |
Net income |  | $ | 15 |  |  | $ | 72 |
Denominator: |  |  |  |  |  |
Weighted-average shares outstanding |  |  | 37 |  |  |  | 40 |
Effect of dilutive securities: |  |  |  |  |  |
Stock options and restricted stock |  |  | 1 |  |  |  | 2 |
Diluted weighted-average shares outstanding |  |  | 38 |  |  |  | 42 |
Diluted earnings per share |  |  |  |  |  |
Continuing operations |  | $ | 0.40 |  |  | $ | 1.71 |
Discontinued operations |  |  | — |  |  |  | — |
Net diluted earnings per share |  | $ | 0.40 |  |  | $ | 1.71 |
Awards of stock options and nonvested shares representing additional shares of outstanding common stock were less than one million in both the first quarter of 2024 and the first quarter of 2023, but they were not included in the computation of diluted weighted-average shares outstanding because their effect would have been antidilutive.

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