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Earnings per share
 6 Months Ended
Jul. 02, 2023
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:
Second QuarterYear-to-date
In millions except share and per-share data2023202220232022
Basic earnings:
Net income from continuing operations$4.9 $9.6 $5.4 $17.3 
Net loss from discontinued operations(0.2)(0.3)(0.2)(0.4)
Net income$4.7 $9.3 $5.2 $16.9 
Weighted average number of £0.50 ordinary shares:
For basic earnings per share26,923,804 27,428,579 26,922,528 27,458,980 
Dilutive effect of potential common stock141,534 274,638 161,458 261,085 
For diluted earnings per share27,065,338 27,703,217 27,083,986 27,720,065 
Earnings / (loss) per share using weighted average number of ordinary shares outstanding(1):
Basic earnings per ordinary share for continuing operations$0.18 $0.35 $0.20 $0.63 
Basic loss per ordinary share for discontinued operations(0.01)(0.01)(0.01)(0.01)
Basic earnings per ordinary share$0.17 $0.34 $0.19 $0.62 
Diluted earnings per ordinary share for continuing operations$0.18 $0.35 $0.20 $0.62 
Diluted loss per ordinary share for discontinued operations(0.01)(0.01)(0.01)(0.01)
Diluted earnings per ordinary share$0.17 $0.34 $0.19 $0.61 
(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
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.