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EARNINGS (LOSS) PER SHARE (Tables)
12 Months Ended
Dec. 28, 2024
Earnings Per Share [Abstract]  
Calculation of Earnings (Loss) Per Common Share

The following table presents the calculation of net earnings (loss) per common share – basic and diluted:

(In millions, except per share amounts)

 

2024

 

 

2023

 

 

2022

 

Basic Earnings (Loss) Per Share

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income from continuing operations

 

$

106

 

 

$

247

 

 

$

226

 

Loss from discontinued operations, net of tax

 

 

(109

)

 

 

(108

)

 

 

(60

)

Net income (loss)

 

$

(3

)

 

$

139

 

 

$

166

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding

 

 

34

 

 

 

39

 

 

 

48

 

Basic earnings (loss) per share:

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

3.14

 

 

$

6.43

 

 

$

4.74

 

Discontinued operations

 

 

(3.22

)

 

 

(2.82

)

 

 

(1.26

)

Net basic earnings (loss) per share

 

$

(0.08

)

 

$

3.61

 

 

$

3.48

 

Diluted Earnings (Loss) Per Share

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income from continuing operations

 

$

106

 

 

$

247

 

 

$

226

 

Loss from discontinued operations, net of tax

 

 

(109

)

 

 

(108

)

 

 

(60

)

Net income (loss)

 

$

(3

)

 

$

139

 

 

$

166

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding

 

 

34

 

 

 

39

 

 

 

48

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

Stock options and restricted stock

 

 

1

 

 

 

1

 

 

 

1

 

Diluted weighted-average shares outstanding

 

 

35

 

 

 

40

 

 

 

49

 

Diluted earnings (loss) per share

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

3.08

 

 

$

6.22

 

 

$

4.59

 

Discontinued operations

 

 

(3.16

)

 

 

(2.72

)

 

 

(1.22

)

Net diluted earnings (loss) per share

 

$

(0.08

)

 

$

3.50

 

 

$

3.37