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Earnings (Loss) Per Common Share (Tables)

6 Months Ended

Jul. 01, 2011

Earnings (Loss) Per Common Share

Reconciliation of the Numerator and Denominator of Earnings per Common Share


Fiscal Months Ended								Six Fiscal Months Ended
(in millions, except per share data)		July 1, 2011				July 2, 2010				July 1, 2011				July 2, 2010
Earnings per common share – basic:
Net income for basic EPS computation ⁽¹⁾		$	37.5			$	23.8			$	75.7			$	16.0

Weighted average shares outstanding for basic EPS computation ⁽²⁾			52.2				52.1				52.2				52.1

Earnings per common share – basic ⁽³⁾		$	0.72			$	0.46			$	1.45			$	0.31

Earnings per common share – assuming dilution:
Net income attributable to Company common shareholders		$	37.5			$	23.8			$	75.7			$	16.0
Add: preferred stock dividends, if applicable			0.1				0.1				0.2				0.2

Net income for diluted EPS computation⁽¹⁾		$	37.6			$	23.9			$	75.9			$	16.2

Weighted average shares outstanding including nonvested shares			52.2				52.1				52.2				52.1
Dilutive effect of convertible bonds			1.4				-				1.2				-
Dilutive effect of stock options and restricted stock units			0.9				0.6				0.9				0.6
Dilutive effect of assumed conversion of preferred stock			0.4				0.4				0.4				0.4

Weighted average shares outstanding for diluted EPS computation⁽²⁾			54.9				53.1				54.7				53.1

Earnings per common share – assuming dilution		$	0.68			$	0.45			$	1.39			$	0.31

(1)

Numerator

(2)	Denominator

(3)	Under the two-class method, Earnings per share – basic reflects undistributed Earnings per share for both common stock and unvested share-based payment awards (restricted stock).

Impact of Company's Stock Price on Assuming Dilution Calculation for the Convertible Notes


Share Price				Shares Underlying 0.875% Convertible Notes		Warrant Shares		Total Treasury Method Incremental Shares⁽¹⁾		Shares Due to the Company under Note Hedges		Incremental Shares Issued by the Company upon Conversion⁽²⁾
$	50.36			-		-		-		-		-
$	60.36			1,167,502		-		1,167,502		(1,167,502)		-
$	70.36			2,003,400		-		2,003,400		(2,003,400)		-
$	80.36			2,631,259		382,618		3,013,877		(2,631,259)		382,618
$	90.36			3,120,150		1,120,363		4,240,513		(3,120,150)		1,120,363
$	100.36			3,511,614		1,711,088		5,222,702		(3,511,614)		1,711,088

(1)	Represents the number of incremental shares that must be included in the calculation of fully diluted shares under GAAP.

(2)	Represents the number of incremental shares to be issued by the Company upon conversion of the 0.875% Convertible Notes, assuming concurrent settlement of the note hedges and warrants.

Impact of Company's Stock Price on Assuming Dilution Calculation for the Senior Convertible Notes


Share Price				Shares Underlying 1.00% Senior Convertible Notes		Total Treasury Method Incremental Shares⁽¹⁾
$	83.93			-		-
$	93.93			13,425		13,425
$	103.93			24,271		24,271
$	113.93			33,213		33,213
$	123.93			40,712		40,712
$	133.93			47,091		47,091

(1)	Represents the number of incremental shares that must be included in the calculation of fully diluted shares under GAAP.

Impact of Company's Stock Price on Assuming Dilution Calculation for the Subordinated Convertible Notes


Share Price				Shares Underlying Subordinated Convertible Notes		Total Treasury Method Incremental Shares⁽¹⁾
$	36.75			-		-
$	38.75			603,152		603,152
$	40.75			1,147,099		1,147,099
$	42.75			1,640,151		1,640,151
$	44.75			2,089,131		2,089,131

(1)	Represents the number of incremental shares that must be included in the calculation of fully diluted shares under GAAP.