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EARNINGS (LOSS) PER SHARE
 9 Months Ended
Sep. 27, 2025
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE

NOTE 6. EARNINGS (LOSS) PER SHARE

The following table represents the calculation of earnings and loss per common share – basic and diluted:

 

 

Third Quarter

 

 

Year-to-Date

 

(In millions, except per share amounts)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Basic Earnings (Loss) Per Share

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) from continuing operations

 

$

23

 

 

$

68

 

 

$

(6

)

 

$

95

 

Loss from discontinued operations, net of tax

 

 

—

 

 

 

(10

)

 

 

—

 

 

 

(95

)

Net income (loss)

 

$

23

 

 

$

58

 

 

$

(6

)

 

$

—

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding

 

 

30

 

 

 

33

 

 

 

30

 

 

 

35

 

Basic earnings (loss) per share

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.75

 

 

$

2.06

 

 

$

(0.21

)

 

$

2.72

 

Discontinued operations

 

 

—

 

 

 

(0.31

)

 

 

—

 

 

 

(2.71

)

Net basic earnings (loss) per share

 

$

0.75

 

 

$

1.75

 

 

$

(0.21

)

 

$

0.01

 

Diluted Earnings (Loss) Per Share

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) from continuing operations

 

$

23

 

 

$

68

 

 

$

(6

)

 

$

95

 

Loss from discontinued operations, net of tax

 

 

—

 

 

 

(10

)

 

 

—

 

 

 

(95

)

Net income (loss)

 

$

23

 

 

$

58

 

 

$

(6

)

 

$

—

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding

 

 

30

 

 

 

33

 

 

 

30

 

 

 

35

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Stock options and restricted stock

 

 

1

 

 

 

—

 

 

 

—

 

 

 

1

 

Diluted weighted-average shares outstanding

 

 

31

 

 

 

33

 

 

 

30

 

 

 

36

 

Diluted earnings (loss) per share

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.72

 

 

$

2.04

 

 

$

(0.21

)

 

$

2.65

 

Discontinued operations

 

 

—

 

 

 

(0.31

)

 

 

—

 

 

 

(2.64

)

Net diluted earnings (loss) per share

 

$

0.72

 

 

$

1.73

 

 

$

(0.21

)

 

$

0.01

 

Awards of stock options and nonvested shares representing additional shares of outstanding common stock were less than 1 million and 1 million in the third quarter and year-to-date 2025, respectively, and 1 million and less than 1 million in the third quarter and year-to-date 2024, respectively, but they are not included in the computation of diluted weighted-average shares outstanding because their effect would have been antidilutive.