Earnings per share

6 Months Ended

Jul. 02, 2022

Basic earnings per share represents net income attributable to shareholders divided by the weighted average number of shares outstanding during the period. Diluted earnings 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 per share is presented below:


	Three months ended				Six months ended
(dollars in millions, except share numbers and per share amounts)	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Net income attributable to shareholders	$	53.1	$	96.9	$	84.0	$	164.2

Weighted average number of shares outstanding	281,768,945		291,696,946		285,713,321		291,432,153
Dilutive effect of share-based awards	4,269,873		6,077,196		4,837,297		5,524,477
Diluted weighted average number of shares outstanding	286,038,818		297,774,142		290,550,618		296,956,630

Number of anti-dilutive shares excluded from the diluted earnings per share calculation	5,679,838		2,200,770		4,771,573		4,340,852

Basic earnings per share	$	0.19	$	0.33	$	0.29	$	0.56
Diluted earnings per share	$	0.19	$	0.33	$	0.29	$	0.55