EARNINGS (LOSS) PER SHARE (Tables)

9 Months Ended

Sep. 26, 2020

Earnings Per Share [Abstract]

Calculation of Earnings (Loss) Per Common Share

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

	Third Quarter				Year-to-Date
(In millions, except per share amounts)	2020		2019		2020			2019
Basic Earnings (Loss) Per Share
Numerator:
Net income (loss)	$	57	$	60	$	(337	)	$	44
Denominator:
Weighted-average shares outstanding		53		55		53			54
Basic earnings (loss) per share	$	1.07	$	1.09	$	(6.40	)	$	0.81
Diluted Earnings (Loss) Per Share
Numerator:
Net income (loss)	$	57	$	60	$	(337	)	$	44
Denominator:
Weighted-average shares outstanding		53		55		53			54
Effect of dilutive securities:
Stock options and restricted stock		1		—		—			1
Diluted weighted-average shares outstanding		54		55		53			55
Diluted earnings (loss) per share	$	1.04	$	1.09	$	(6.40	)	$	0.79