Net (Loss) Earnings Per Share

6 Months Ended

Jul. 01, 2011

Net (Loss) Earnings Per Share

Net (Loss) Earnings Per Share

14. Net (Loss) Earnings Per Share

The following table sets forth the computation of net (loss) earnings per share:

	Second Quarter					Six Months
	7/1/11			7/2/10		7/1/11			7/2/10
Numerator:
Net (loss) earnings	$	(20.1	)	$	64.1	$	(44.2	)	$	109.7
Denominator:
Denominator for basic net (loss) earnings per share – weighted average shares outstanding		364.6			385.4		363.8			385.0
Effect of dilutive securities:
Employee stock options and restricted and performance stock awards		—			4.5		—			4.5
Denominator for diluted net (loss) earnings per share – adjusted weighted average shares outstanding and assumed conversions		364.6			389.9		363.8			389.5
Net (loss) earnings per share, basic	$	(0.06	)	$	0.17	$	(0.12	)	$	0.28
Net (loss) earnings per share, diluted	$	(0.06	)	$	0.16	$	(0.12	)	$	0.28
Anti-dilutive employee equity-based awards, excluded 1		25.7			18.9		25.2			19.2

¹ We exclude certain employee equity-based awards from the weighted average shares outstanding computation because the exercise price was greater than the average market price of the common shares; therefore, the effect would have been anti-dilutive.

Under U.S. GAAP, dilutive securities are not included in the computation of diluted earnings per share when a company is in a loss position. If we were not in a loss position, diluted weighted average shares outstanding would have been 365.9 million in the second quarter and the first six months of 2011.