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EARNINGS PER SHARE (Tables) | 3 Months Ended
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Mar. 30, 2024
Earnings Per Share [Abstract] |
Calculation of Earnings Per Common 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 |

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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 -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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