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Earnings (Loss) Per Share

9 Months Ended

Sep. 27, 2020

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

Earnings (Loss) Per Share

The reconciliation of basic and diluted earnings (loss) per share on common stock for the third quarter and September year to date 2020 and 2019 follows (in millions of dollars except per share data):

			Third Quarter												September Year to Date
			2020						2019						2020						2019
Net earnings (loss)			$	16.7					$	(10.5)					$	(95.4)					$	95.4
Less: earnings allocated to participating securities			(0.2)						—						—						(1.0)
Net earnings (loss) available to common shareholders			$	16.5					$	(10.5)					$	(95.4)					$	94.4
Average shares outstanding (millions):
Basic			39.3						39.1						39.3						39.0
Dilutive share awards			0.1						—						—						0.2
Diluted			39.4						39.1						39.3						39.2
Basic earnings (loss) per share			$	0.42					$	(0.27)					$	(2.43)					$	2.42
Diluted earnings (loss) per share			$	0.42					$	(0.27)					$	(2.43)					$	2.41

Potentially dilutive shares outstanding are primarily related to performance shares for the third quarter and September year to date 2020 and 2019. Dividends paid per share for Class A and Class B common stock were $0.00 for the third quarter 2020, $0.075 for the third quarter 2019 and September year to date 2020, and $0.225 for September year to date 2019.

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257

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