Earnings Per Share

3 Months Ended

Apr. 02, 2016

The following table reconciles net earnings attributable to common shareowners and the weighted average shares outstanding used to calculate basic and diluted earnings per share for the three months ended April 2, 2016 and April 4, 2015:



	Year-to-Date
	2016		2015
Numerator (in millions):
Net earnings from continuing operations attributable to common shareowners	$	189.4	$	166.8
Net loss from discontinued operations	—		(4.5		)
Net Earnings Attributable to Common Shareowners	$	189.4	$	162.3



	Year-to-Date
	2016		2015
Denominator (in thousands):
Basic earnings per share — weighted-average shares	145,870		152,172
Dilutive effect of stock options, awards and other equity arrangements	1,749		4,365
Diluted earnings per share — weighted-average shares	147,619		156,537
Earnings (loss) per share of common stock:
Basic earnings (loss) per share of common stock:
Continuing operations	$	1.30	$	1.10
Discontinued operations	—		(0.03		)
Total basic earnings per share of common stock	$	1.30	$	1.07
Diluted earnings (loss) per share of common stock:
Continuing operations	$	1.28	$	1.07
Discontinued operations	—		(0.03		)
Total dilutive earnings per share of common stock	$	1.28	$	1.04

The following weighted-average stock options were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive (in thousands):



	Year-to-Date
	2016	2015
Number of stock options	1,590	975

As described in detail in Note I, Equity Arrangements, the Company issued Equity Units comprised of $345.0 million of Notes and Equity Purchase Contracts, which obligate the holders to purchase on November 17, 2016, for $100, between 1.0122 and 1.2399 shares of the Company’s common stock. The shares related to the Equity Purchase Contracts were anti-dilutive during January and February of 2016, and for the three months ended April 4, 2015. Upon the November 17, 2016 settlement date, the Company will issue approximately 3.5 to 4.3 million shares of common stock, subject to customary anti-dilution adjustments, and expects to receive additional cash proceeds of $345.0 million.