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Earnings per share
 6 Months Ended
Jun. 26, 2022
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 or loss 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:
Second QuarterYear-to-date
In millions except share and per-share data2022202120222021
Basic earnings:
Net income from continuing operations$9.6 $11.9 $17.3 $20.5 
Net (loss) / income from discontinued operations(0.3)(0.9)(0.4)5.0 
Net income$9.3 $11.0 $16.9 $25.5 
Weighted average number of £0.50 ordinary shares:
For basic earnings per share27,428,579 27,771,983 27,458,980 27,717,025 
Dilutive effect of potential common stock274,638 359,802 261,085 378,763 
For diluted earnings per share27,703,217 28,131,785 27,720,065 28,095,788 
Earnings / (loss) per share using weighted average number of ordinary shares outstanding(1):
Basic earnings per ordinary share for continuing operations$0.35 $0.43 $0.63 $0.74 
Basic (loss) / earnings per ordinary share for discontinued operations(0.01)(0.03)(0.01)0.18 
Basic earnings per ordinary share$0.34 $0.40 $0.62 $0.92 
Diluted earnings per ordinary share for continuing operations$0.35 $0.42 $0.62 $0.73 
Diluted (loss) / earnings per ordinary share for discontinued operations(0.01)(0.03)(0.01)0.18 
Diluted earnings per ordinary share$0.34 $0.39 $0.61 $0.91 
(1) 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 second quarter of 2022 and 2021 and year-to-date 2022, 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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