EARNINGS PER SHARE (Tables)

6 Months Ended

Jul. 01, 2017

Calculation of Net Earnings (Loss) 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)	2017		2016			2017		2016
Basic Earnings Per Share
Numerator:
Net income from continuing operations	$	21	$	232		$	95	$	294
Income (loss) from discontinued operations, net of tax		3		(22	)		45		(38	)
Net income	$	24	$	210		$	140	$	256
Denominator:
Weighted-average shares outstanding		518		550			517		550
Basic earnings (loss) per share:
Continuing operations	$	0.04	$	0.42		$	0.18	$	0.53
Discontinued operations		0.01		(0.04	)		0.09		(0.07	)
Net earnings per share	$	0.05	$	0.38		$	0.27	$	0.47
Diluted Earnings Per Share
Numerator:
Net income from continuing operations	$	21	$	232		$	95	$	294
Income (loss) from discontinued operations, net of tax		3		(22	)		45		(38	)
Net income	$	24	$	210		$	140	$	256
Denominator:
Weighted-average shares outstanding		518		550			517		550
Effect of dilutive securities:
Stock options and restricted stock		14		10			15		7
Diluted weighted-average shares outstanding		532		560			532		557
Diluted earnings (loss) per share
Continuing operations	$	0.04	$	0.41		$	0.18	$	0.53
Discontinued operations		0.01		(0.04	)		0.08		(0.07	)
Net diluted earnings per share	$	0.05	$	0.38		$	0.26	$	0.46