Quarterly report pursuant to Section 13 or 15(d)

Earnings per Common Share

v3.7.0.1
Earnings per Common Share
 6 Months Ended
Jul. 01, 2017
Earnings Per Share [Abstract]  
Earnings per Common Share
Earnings per Common Share

Basic earnings per common share is calculated by dividing Net earnings by the weighted average outstanding shares which includes certain vested, unissued equity awards. Diluted earnings per common share is calculated similarly, except that the calculation includes the dilutive effect of stock-settled SARs, non-vested stock awards and performance awards.

Basic and diluted earnings per common share for the three months and six months ended July 1, 2017 and July 2, 2016 were calculated as follows:
 
Three Months Ended
 
Six Months Ended
(in millions, except per share data)
July 1,
2017
 
July 2,
2016
 
July 1,
2017
 
July 2,
2016
Net earnings from continuing operations
$
119.4

 
$
108.1

 
$
184.3

 
$
171.3

Net earnings (loss) from discontinued operations, net of tax
—

 
(0.0
)
 
—

 
1.6

Net earnings
$
119.4

 
$
108.1

 
$
184.3

 
$
172.9

 
 
 
 
 
 
 
 
Weighted average outstanding shares-basic
89.8

 
91.5

 
90.0

 
91.6

Dilutive effect of common stock equivalents
0.8

 
0.8

 
0.8

 
1.0

Weighted average outstanding shares-diluted
90.6

 
92.3

 
90.8

 
92.6

 
 
 
 
 
 
 
 
Basic earnings (loss) per common share:
 
 
 
 
 
 
 
Continuing operations
$
1.33

 
$
1.18

 
$
2.05

 
$
1.87

Discontinued operations
—

 
(0.00
)
 
—

 
0.02

Net earnings
$
1.33

 
$
1.18

 
$
2.05

 
$
1.89

 
 
 
 
 
 
 
 
Diluted earnings (loss) per common share:
 
 
 
 
 
 
 
Continuing operations
$
1.32

 
$
1.17

 
$
2.03

 
$
1.85

Discontinued operations
—

 
(0.00
)
 
—

 
0.02

Net earnings
$
1.32

 
$
1.17

 
$
2.03

 
$
1.87



There were no anti-dilutive shares of SARs that were excluded from the computation of diluted earnings per share for the periods ended July 1, 2017 and July 2, 2016.