Earnings (Loss) Per Share

9 Months Ended

Oct. 03, 2021

The reconciliation of basic and diluted earnings (loss) per share on common stock for the third quarter and September year to date 2021 and 2020 follows (in millions of dollars except per share data):


	Third Quarter				September Year to Date
	2021		2020		2021		2020
Net earnings (loss)	$	34.8	$	16.7	$	84.4	$	(95.4)
Less: earnings allocated to participating securities	(0.4)		(0.2)		(0.8)		—
Net earnings (loss) available to common shareholders	$	34.4	$	16.5	$	83.6	$	(95.4)

Average shares outstanding (millions):
Basic	39.4		39.3		39.4		39.3
Dilutive share awards	0.1		0.1		0.1		—
Diluted	39.5		39.4		39.5		39.3

Basic earnings (loss) per share	$	0.87	$	0.42	$	2.12	$	(2.43)
Diluted earnings (loss) per share	$	0.87	$	0.42	$	2.12	$	(2.43)

Potentially dilutive shares outstanding are primarily related to performance shares (see Stock-Based Compensation footnote for a description of performance shares) for the third quarter and September year to date 2021 and 2020. Dividends paid for Class A and Class B common stock were $0.05 for third quarter 2021 and September year to date 2021. Dividends paid per share for Class A and Class B common stock were $0.00 for third quarter 2020 and $0.075 for September year to date 2020.