Earnings Per Share and Shareholders' Equity

3 Months Ended

Apr. 03, 2021

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 3, 2021		March 28, 2020
Numerator:
Income from continuing operations	$	2.8	$	57.6
Income from discontinued operations, net of tax	35.3		48.8
Net income	$	38.1	$	106.4

Denominator:
Weighted average shares outstanding for basic EPS	133.2		136.2
Dilutive effect of share-based awards	1.4		1.1
Weighted average shares outstanding for diluted EPS	134.6		137.3

Anti-dilutive share-based awards excluded from computation of diluted EPS	1.8		1.7

Shareholders' Equity

Share Repurchases

In October 2018, our Board of Directors authorized up to $1.0 billion of share repurchases with no expiration date, subject to the Board of Directors’ approval of the pricing parameters and amount that may be repurchased under each specific share repurchase program (the "2018 Authorization"). We did not repurchase any shares during the three months ended April 3, 2021 and March 28, 2020.