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Earnings (Loss) Per Share | 6 Months Ended
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Jul. 02, 2023
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 2023 and 2022 follows (in millions of dollars except per share data):
| Second Quarter |  | June Year to Date
| 2023 |  | 2022 |  | 2023 |  | 2022
Net earnings (loss) | $ | 7.5 |  |  | $ | 2.2 |  |  | $ | 18.4 |  |  | $ | (45.4) |
Less: earnings allocated to participating securities | (0.2) |  |  | — |  |  | (0.4) |  |  | — |
Net earnings (loss) available to common shareholders | $ | 7.3 |  |  | $ | 2.2 |  |  | $ | 18.0 |  |  | $ | (45.4) |
Average shares outstanding (millions): |  |  |  |  |  |  |
Basic | 36.0 |  |  | 37.9 |  |  | 36.5 |  |  | 38.3 |
Dilutive share awards | 0.4 |  |  | 0.3 |  |  | 0.4 |  |  | — |
Diluted | 36.4 |  |  | 38.2 |  |  | 36.9 |  |  | 38.3 |
Basic earnings (loss) per share | $ | 0.20 |  |  | $ | 0.06 |  |  | $ | 0.49 |  |  | $ | (1.19) |
Diluted earnings (loss) per share | $ | 0.20 |  |  | $ | 0.06 |  |  | $ | 0.49 |  |  | $ | (1.19) |
Dilutive share awards are related to deferred common stock related to the non-employee directors deferred compensation plan and performance shares for the second quarter of 2023 and 2022 and June year-to-date 2023 (see Stock-Based Compensation footnote for a description of performance shares). Due to our net loss in June year-to-date 2022, potentially dilutive shares primarily related to deferred common stock associated with the non-employee directors deferred compensation plan of 0.2 million shares had an anti-dilutive effect on diluted earnings per share and were excluded from the computation for June year-to-date 2022. Dividends paid per share for Class A and Class B common stock were $0.075 for the second quarter of 2023 and 2022, $0.15 for June year-to-date 2023 and $0.125 for June year-to-date 2022. In connection with our $50.0 million Class A share repurchase program authorized by the Company's board of directors in November 2022, the Company repurchased 982,565 shares for $16.5 million during the second quarter of 2023 and 2,082,293 shares for $34.8 million through June year-to-date 2023. A total of $7.4 million remains available under the share repurchase program. The repurchase program expires in November 2023.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
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