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Earnings (Loss) Per Share

6 Months Ended

Jul. 04, 2021

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 second quarter and June year to date 2021 and 2020 follows (in millions of dollars except per share data):

			Second Quarter												June Year to Date
			2021						2020						2021						2020
Net earnings (loss)			$	24.0					$	41.1					$	49.6					$	(112.1)
Less: earnings allocated to participating securities			(0.2)						(0.3)						(0.4)						—
Net earnings (loss) available to common shareholders			$	23.8					$	40.8					$	49.2					$	(112.1)
Average shares outstanding (millions):
Basic			39.4						39.3						39.4						39.2
Dilutive share awards			0.1						0.1						0.1						—
Diluted			39.5						39.4						39.5						39.2
Basic earnings (loss) per share			$	0.60					$	1.04					$	1.25					$	(2.86)
Diluted earnings (loss) per share			$	0.60					$	1.04					$	1.25					$	(2.86)

Potentially dilutive shares outstanding are primarily related to performance shares (see Stock-Based Compensation footnote for a description of performance shares) for the second quarter and June year to date 2021 and 2020. There were no dividends paid for Class A and Class B common stock for second quarter 2021 and 2020, and June year to date 2021. Dividends paid per share for Class A and Class B common stock were $0.075 for June year to date 2020.

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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=124432515&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=124432515&loc=d3e3630-109257

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