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Earnings per share
 9 Months Ended
Sep. 26, 2021
Earnings Per Share [Abstract]  
Earnings per share Earnings per share
Basic earnings per share are computed by dividing net income or loss for the period by the weighted-average number of ordinary shares outstanding, net of treasury shares and shares held in ESOP. Diluted earnings per share are computed by dividing net income for the period by the weighted average number of ordinary shares outstanding and the dilutive ordinary shares equivalents.
Basic and diluted earnings per share were calculated as follows:
Third QuarterYear-to-date
In millions except share and per-share data2021202020212020
Basic earnings:
Net income from continuing operations$6.0 $2.4 $26.5 $14.2 
Net (loss) / income from discontinued operations(1.2)0.2 3.8 (1.3)
Net income$4.8 $2.6 $30.3 $12.9 
Weighted average number of £0.50 ordinary shares:
For basic earnings per share27,722,472 27,619,298 27,718,874 27,532,823 
Dilutive effect of potential common stock311,260 394,408 353,281 426,119 
For diluted earnings per share28,033,732 28,013,706 28,072,155 27,958,942 
Earnings / (loss) per share using weighted average number of ordinary shares outstanding3:
Basic earnings per ordinary share for continuing operations$0.22 $0.09 $0.96 $0.52 
Basic (loss) / earnings per ordinary share for discontinued operations(0.04)0.01 0.14 (0.05)
Basic earnings per ordinary share$0.17 $0.09 $1.09 $0.47 
Diluted earnings per ordinary share for continuing operations$0.21 $0.09 $0.94 $0.51 
Diluted (loss) / earnings per ordinary share for discontinued operations(0.04)0.01 0.14 (0.05)
Diluted earnings per ordinary share$0.17 $0.09 $1.08 $0.46 
3 The calculation of earnings per share is performed separately for continuing and discontinued operations. As a result, the sum of the two in any particular period may not equal the earnings-per-share amount in total
In the third quarter of 2021 and year-to-date 2020, basic average shares outstanding and diluted average shares outstanding were the same for discontinued operations because the effect of potential shares of common stock was anti-dilutive since the Company generated a net loss from discontinued operations.
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