Earnings Per Share and Shareholders Equity

3 Months Ended

Apr. 01, 2017

Earnings Per Share [Abstract]

Earnings Per Share and Shareholders Equity

EARNINGS PER SHARE AND SHAREHOLDERS' EQUITY

Earnings per Share

A reconciliation of the numerators and denominators used in the basic and diluted earnings per share ("EPS") calculation is as follows (in millions):

	Three Months Ended
	April 1, 2017		April 2, 2016
Numerator:
Net income (loss)	$	71.6	$	(529.2	)
Denominator:
Weighted average shares outstanding for basic EPS	143.4		143.2
Dilutive effect of share-based awards*	0.2		—
Weighted average shares outstanding for diluted EPS	143.6		143.2
Anti-dilutive share-based awards excluded from computation of diluted EPS*	1.0		—

* In the period of a net loss, diluted shares equal basic shares.

Shareholders' Equity

Shares

We issued shares related to the exercise and vesting of share-based compensation as follows:

Three Months Ended
April 1, 2017	April 2, 2016
14,400	79,000

Share Repurchases

On October 22, 2015, the Board of Directors approved a share repurchase plan of up to $2.0 billion, of which $1.5 billion is still available to be repurchased through December 31, 2018. We did not repurchase any shares under the share repurchase plan during the three months endedApril 1, 2017.