Earnings (loss) per share

6 Months Ended

Jul. 03, 2021

Basic earnings (loss) per share represents net income (loss) attributable to shareholders divided by the weighted average number of shares outstanding during the period. Diluted earnings (loss) per share considers the dilutive effect of potential shares, unless the inclusion of the potential shares would have an anti-dilutive effect. The treasury stock method is used to determine the potential dilutive shares resulting from assumed exercises of equity-related instruments.

The computation of earnings (loss) per share is presented below:


	Three months ended				Six months ended
(dollars in millions, except share numbers and per share amounts)	July 3, 2021		June 27, 2020		July 3, 2021		June 27, 2020
Net income (loss) attributable to shareholders	$	96.9	$	(22.4)	$	164.2	$	13.2

Weighted average number of shares outstanding	291,696,946		290,732,375		291,432,153		290,566,743
Dilutive effect of share-based awards	6,077,196		—		5,524,477		1,149,764
Diluted weighted average number of shares outstanding	297,774,142		290,732,375		296,956,630		291,716,507

Number of anti-dilutive shares excluded from the diluted earnings (loss) per share calculation	2,200,770		6,317,804		4,340,852		5,597,575

Basic earnings (loss) per share	$	0.33	$	(0.08)	$	0.56	$	0.05
Diluted earnings (loss) per share	$	0.33	$	(0.08)	$	0.55	$	0.05