XML 27 R14.htm IDEA: XBRL DOCUMENT v3.24.1.u1
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.