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Earnings (Loss) Per Share | 9 Months Ended
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Oct. 01, 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 third quarter and September year-to-date 2023 and 2022 follows (in millions of dollars except per share data):
| Third Quarter |  | September Year to Date
| 2023 |  | 2022 |  | 2023 |  | 2022
Net earnings (loss) | $ | 6.6 |  |  | $ | (16.2) |  |  | $ | 25.0 |  |  | $ | (61.6) |
Less: earnings allocated to participating securities | (0.1) |  |  | — |  |  | (0.5) |  |  | — |
Net earnings (loss) available to common shareholders | $ | 6.5 |  |  | $ | (16.2) |  |  | $ | 24.5 |  |  | $ | (61.6) |
Average shares outstanding (millions): |  |  |  |  |  |  |
Basic | 35.4 |  |  | 37.9 |  |  | 36.2 |  |  | 38.2 |
Dilutive share awards | 0.4 |  |  | — |  |  | 0.3 |  |  | — |
Diluted | 35.8 |  |  | 37.9 |  |  | 36.5 |  |  | 38.2 |
Basic earnings (loss) per share | $ | 0.18 |  |  | $ | (0.43) |  |  | $ | 0.68 |  |  | $ | (1.62) |
Diluted earnings (loss) per share | $ | 0.18 |  |  | $ | (0.43) |  |  | $ | 0.67 |  |  | $ | (1.62) |
Dilutive share awards are related to deferred common stock related to the non-employee directors deferred compensation plan and performance shares for the third quarter of 2023 and September year-to-date 2023 (see Stock-Based Compensation footnote for a description of performance shares). Due to our net loss in the third quarter of 2022 and September 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. Accordingly, the impact of these shares were excluded from the computation for the third quarter of 2022 and September year-to-date 2022. Dividends paid per share for Class A and Class B common stock were $0.075 for the third quarter of 2023 and 2022, $0.225 for September year-to-date 2023 and $0.20 for September year-to-date 2022. In November 2022, the Company's board of directors authorized a $50.0 million Class A share repurchase program, which was completed in August 2023. During the third quarter of 2023 and through September year-to-date 2023, the Company repurchased 414,534 shares for $7.4 million and 2,496,827 shares for $42.2 million, respectively. A total of 2,971,471 shares were repurchased under the share repurchase program at an average price of $16.83 per share.

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