Earnings (Loss) Per Share

3 Months Ended

Apr. 03, 2022

The reconciliation of basic and diluted earnings (loss) per share on common stock for the first quarter 2022 and 2021 follows (in millions of dollars except per share data):


	First Quarter
	2022		2021
Net earnings (loss)	$	(47.6)	$	25.6
Less: earnings allocated to participating securities	—		(0.2)
Net earnings (loss) available to common shareholders	$	(47.6)	$	25.4

Average shares outstanding (millions):
Basic	38.6		39.3
Dilutive share awards	—		0.2
Diluted	38.6		39.5

Basic earnings (loss) per share	$	(1.23)	$	0.65
Diluted earnings (loss) per share	$	(1.23)	$	0.64

Potentially dilutive shares outstanding are primarily related to deferred common stock related to the non-employee directors deferred compensation plan for the first quarter of 2021. Dividends paid per share for Class A and Class B common stock were $0.05 for the first quarter 2022 and $0.00 for the first quarter 2021.