EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 25, 2016

Calculation of Net Earnings Per Common Share

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

	Second Quarter					First Half
(In millions, except per share amounts)	2016		2015			2016		2015
Basic Earnings Per Share
Numerator:
Net income (loss)	$	210	$	(58	)	$	256	$	(13	)
Denominator:
Weighted-average shares outstanding		550		547			550		546
Basic earnings (loss) per share	$	0.38	$	(0.11	)	$	0.47	$	(0.02	)
Diluted Earnings Per Share
Numerator:
Net income (loss)	$	210	$	(58	)	$	256	$	(13	)
Denominator:
Weighted-average shares outstanding		550		547			550		546
Effect of dilutive securities:
Stock options and restricted stock		10		—			7		—
Diluted weighted-average shares outstanding		560		547			557		546
Diluted earnings (loss) per share	$	0.38	$	(0.11	)	$	0.46	$	(0.02	)