Earnings (Loss) Per Share

6 Months Ended

Jun. 28, 2020

The reconciliation of basic and diluted earnings (loss) per share on common stock for the second quarter and June year to date 2020 and 2019 follows (in millions of dollars except per share data):


	Second Quarter						June Year to Date
	2020		2019		2020		2019
Net earnings (loss)	$	41.1	$	83.8	$	(112.1)	$	105.9
Less: earnings allocated to participating securities	(0.3)		(0.8)		—		(1.0)
Net earnings (loss) available to common shareholders	$	40.8	$	83.0	$	(112.1)	$	104.9

Average shares outstanding (millions):
Basic	39.3		39.1		39.2		39.0
Dilutive share awards	0.1		0.1		—		0.2
Diluted	39.4		39.2		39.2		39.2

Basic earnings (loss) per share	$	1.04	$	2.12	$	(2.86)	$	2.69
Diluted earnings (loss) per share	$	1.04	$	2.12	$	(2.86)	$	2.68

Potentially dilutive shares outstanding are primarily related to performance shares for the second quarter and June year to date 2020 and 2019. Dividends paid per share for Class A and Class B common stock were $0.00 for the second quarter 2020, $0.075 for second quarter 2019 and June year to date 2020, and $0.15 for June year to date 2019.