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Net (Loss) Earnings per Share (Tables)
12 Months Ended
Dec. 28, 2012
Computation of Net Loss Per Share

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

 

      2012     2011     2010  

Numerator:

      

Net (loss) earnings

   $ (171.7   $ (188.4   $ 155.6   

Denominator:

      

Denominator for basic net (loss) earnings per share –
weighted average shares outstanding

     367.0        364.5        378.1   

Effect of dilutive securities:

      

Employee stock options and restricted and performance stock awards

                   4.6   

Denominator for diluted net (loss) earnings per share –
adjusted weighted average shares outstanding and assumed conversions

     367.0        364.5        382.7   

Net (loss) earnings per share, basic

   $ (0.47   $ (0.52   $ 0.41   

Net (loss) earnings per share, diluted 1

   $ (0.47   $ (0.52   $ 0.41   

Anti-dilutive employee equity-based awards, excluded (in shares) 2

     19.3        23.2        18.5   

 

1 

Dilutive securities are not included in the computation of diluted earnings per share when a company is in a loss position. As such, the numerator and the denominator used in computing both basic and diluted net loss per share for 2012 and 2011 are the same. Diluted weighted average shares outstanding were 368.8 million in 2012 and 367.6 million in 2011.

 

2 

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.