EARNINGS PER SHARE

3 Months Ended

Mar. 30, 2019

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 7. EARNINGS PER SHARE

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

	First Quarter
(In millions, except per share amounts)	2019		2018
Basic Earnings Per Share
Numerator:
Net income from continuing operations	$	8	$	33
Income from discontinued operations, net of tax		—		8
Net income	$	8	$	41
Denominator:
Weighted-average shares outstanding		543		555
Basic earnings per share:
Continuing operations	$	0.01	$	0.06
Discontinued operations		—		0.01
Net earnings per share	$	0.01	$	0.07
Diluted Earnings Per Share
Numerator:
Net income from continuing operations	$	8	$	33
Income from discontinued operations, net of tax		—		8
Net income	$	8	$	41
Denominator:
Weighted-average shares outstanding		543		555
Effect of dilutive securities:
Stock options and restricted stock		18		8
Diluted weighted-average shares outstanding		561		563
Diluted earnings per share:
Continuing operations	$	0.01	$	0.06
Discontinued operations		—		0.01
Net diluted earnings per share	$	0.01	$	0.07

Awards of stock options and nonvested shares representing approximately 4 million additional shares of common stock were outstanding for the first quarter of 2019 and approximately 8 million for the first quarter of 2018, but were not included in the computation of diluted weighted-average shares outstanding because their effect would have been antidilutive.