XML 23 R13.htm IDEA: XBRL DOCUMENT v3.23.1
EARNINGS PER SHARE
 3 Months Ended
Apr. 01, 2023
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

NOTE 6. EARNINGS PER SHARE

The following table represents the calculation of earnings per common share – basic and diluted:

 

 

First Quarter

 

(In millions, except per share amounts)

 

2023

 

 

2022

 

Basic Earnings Per Share

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

Net income from continuing operations

 

$

72

 

 

$

55

 

Income from discontinued operations, net of tax

 

 

—

 

 

 

—

 

Net income

 

$

72

 

 

$

55

 

Denominator:

 

 

 

 

 

 

Weighted-average shares outstanding

 

 

40

 

 

 

49

 

Basic earnings per share

 

 

 

 

 

 

Continuing operations

 

$

1.79

 

 

$

1.14

 

Discontinued operations

 

 

—

 

 

 

—

 

Net basic earnings per share

 

$

1.79

 

 

$

1.14

 

Diluted Earnings Per Share

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

Net income from continuing operations

 

$

72

 

 

$

55

 

Income from discontinued operations, net of tax

 

 

—

 

 

 

—

 

Net income

 

$

72

 

 

$

55

 

Denominator:

 

 

 

 

 

 

Weighted-average shares outstanding

 

 

40

 

 

 

49

 

Effect of dilutive securities:

 

 

 

 

 

 

Stock options and restricted stock

 

 

2

 

 

 

2

 

Diluted weighted-average shares outstanding

 

 

42

 

 

 

51

 

Diluted earnings per share

 

 

 

 

 

 

Continuing operations

 

$

1.71

 

 

$

1.09

 

Discontinued operations

 

 

—

 

 

 

—

 

Net diluted earnings per share

 

$

1.71

 

 

$

1.09

 

Awards of stock options and nonvested shares representing additional shares of outstanding common stock were less than 1 million in the first quarter of 2023 and the first quarter of 2022, but they were not included in the computation of diluted weighted-average shares outstanding because their effect would have been antidilutive.