Earnings Per Share Attributable to Common Stockholders

6 Months Ended

May 26, 2024

EARNINGS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS

EARNINGS (LOSS) PER SHARE

The following table sets forth the computation of the Company’s basic and diluted earnings (loss) per share:


	Three Months Ended					Six Months Ended
	May 26, 2024		May 28, 2023			May 26, 2024		May 28, 2023

	(Dollars in millions, except per share amounts)
Numerator:
Net income (loss)	$	18.0	$	(1.6)		$	7.3	$	113.1
Denominator:
Weighted-average common shares outstanding - basic	398,799,458		397,455,261			398,897,030		396,671,862
Dilutive effect of stock awards	4,107,754		—			4,075,513		4,469,804
Weighted-average common shares outstanding - diluted	402,907,212		397,455,261			402,972,543		401,141,666
Earnings (loss) per common share:
Basic	$0.05		$(0.00		)	$0.02		$0.29
Diluted	$0.04		$(0.00		)	$0.02		$0.28
Anti-dilutive securities excluded from calculation of diluted earnings (loss) per share	2,835,565		—			4,982,183		5,464,945

Diluted net loss per common share for the three months ended May 28, 2023 excluded all potentially dilutive securities because there was a net loss for the period and, as such, the inclusion of these securities would have been anti-dilutive. Potentially dilutive securities excluded from the calculation of diluted loss per common share were 16.1 million shares for the three months ended May 28, 2023.