NET EARNINGS PER SHARE

Basic net earnings per share (“EPS”) is calculated by dividing net earnings attributable to common stockholders by the weighted average number of common shares outstanding for the applicable period. Diluted net EPS is computed based on the weighted average number of common shares outstanding increased by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued and reduced by the number of shares the Company could have repurchased with the proceeds from the issuance of the potentially dilutive shares. For the three-month period ended March 29, 2019, no options to purchase shares were excluded from the diluted EPS calculation. For the three-month period ended March 30, 2018, approximately three million options to purchase shares were not included in the diluted EPS calculation as the impact of their inclusion would have been anti-dilutive.

The impact of the MCPS calculated under the if-converted method was anti-dilutive, and as such 12.9 million shares underlying the MCPS were excluded from the dilutive EPS calculation for the three-month period ended March 29, 2019.

Information related to the calculation of net earnings per share is summarized as follows ($ and shares in millions, except per share amounts):



	Three-Month Period Ended
	March 29, 2019			March 30, 2018
Numerator:
Net earnings	$	333.8		$	566.6
Adjustment for interest on convertible debentures	0.5			0.6
MCPS dividends	(6.5		)	—
Net earnings attributable to common stockholders after assumed conversions for diluted EPS	$	327.8		$	567.2

Denominator:
Weighted average common shares outstanding used in basic EPS	707.6			698.6
Incremental common shares from:
Assumed exercise of dilutive options and vesting of dilutive RSUs and PSUs	8.7			8.3
Assumed conversion of the convertible debentures	2.2			2.6
Weighted average common shares outstanding used in diluted EPS	718.5			709.5

Basic EPS	$	0.46		$	0.81
Diluted EPS	$	0.46		$	0.80