Quarterly report pursuant to Section 13 or 15(d)

Earnings per Common Share

v3.10.0.1
Earnings per Common Share
 6 Months Ended
Jun. 30, 2018
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 during the period. 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 June 30, 2018 and July 1, 2017 were calculated as follows:
 
Three Months Ended
 
Six Months Ended
(in millions, except per share data)
June 30,
2018
 
July 1,
2017
 
June 30,
2018
 
July 1,
2017
Net earnings
$
79.0

 
$
119.4

 
$
151.9

 
$
184.3

 
 
 
 
 
 
 
 
Weighted average outstanding shares-basic
87.6

 
89.8

 
87.8

 
90.0

Dilutive effect of common stock equivalents
0.6

 
0.8

 
0.7

 
0.8

Weighted average outstanding shares-diluted
88.2

 
90.6

 
88.5

 
90.8

 
 
 
 
 
 
 
 
Basic earnings per common share:
$
0.90

 
$
1.33

 
$
1.73

 
$
2.05

 
 
 
 
 
 
 
 
Diluted earnings per common share:
$
0.90

 
$
1.32

 
$
1.72

 
$
2.03



Share awards that were not included in the computation of diluted earnings per share because their inclusion was anti-dilutive were immaterial for all periods presented.