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Earnings Per Share
 6 Months Ended
Jul. 01, 2017
Earnings Per Share [Abstract]  
Earnings Per Share
EARNINGS PER SHARE
The Company calculates earnings per share in accordance with FASB Accounting Standards Codification (“ASC”) Topic 260, Earnings Per Share (“ASC 260”). ASC 260 addresses whether instruments granted in share-based payment transactions are participating securities prior to vesting and, therefore, need to be included in the earnings allocation in computing earnings per share under the two-class method. Under the guidance in ASC 260, the Company’s unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, are participating securities and must be included in the computation of earnings per share pursuant to the two-class method.
The following table sets forth the computation of basic and diluted earnings per share.
(In millions, except per share data)
13 Weeks Ended
July 1, 2017
 
12 Weeks Ended
June 18, 2016
 
26 Weeks Ended
July 1, 2017
 
24 Weeks Ended
June 18, 2016
Numerator:
 
 
 
 
 
 
 
Net earnings attributable to Wolverine World Wide, Inc.
$
20.7

 
$
24.0

 
$
37.4

 
$
41.4

Adjustment for earnings allocated to non-vested restricted common stock
(0.5
)
 
(0.5
)
 
(0.8
)
 
(0.9
)
Net earnings used in calculating basic and diluted earnings per share
$
20.2

 
$
23.5

 
$
36.6

 
$
40.5

Denominator:
 
 
 
 
 
 
 
Weighted average shares outstanding
96.8

 
99.5

 
96.9

 
99.4

Adjustment for non-vested restricted common stock
(2.2
)
 
(4.0
)
 
(2.3)

 
(3.8)

Shares used in calculating basic earnings per share
94.6

 
95.5

 
94.6

 
95.6

Effect of dilutive stock options
1.6

 
0.6

 
1.5

 
0.5

Shares used in calculating diluted earnings per share
96.2

 
96.1

 
96.1

 
96.1

Net earnings per share:
 
 
 
 
 
 
 
Basic
$
0.21

 
$
0.25

 
$
0.39

 
$
0.42

Diluted
$
0.21

 
$
0.24

 
$
0.38

 
$
0.42


For the 13 and 26 weeks ended July 1, 2017, options relating to 1,814,701 and 1,836,686 shares of common stock outstanding, respectively, have not been included in the denominator for the computation of diluted earnings per share because they were anti-dilutive.

For the 12 and 24 weeks ended June 18, 2016, options relating to 5,587,283 and 5,717,179 shares of common stock outstanding, respectively, have not been included in the denominator for the computation of diluted earnings per share because they were anti-dilutive.