Earnings Per Share and Shareholders' Equity

6 Months Ended

Jun. 29, 2024

Earnings Per Share and Shareholders' Equity

EARNINGS PER SHARE AND SHAREHOLDERS' EQUITY

Earnings per Share

A reconciliation of the numerators and denominators used in our basic and diluted earnings per share ("EPS") calculation is as follows (in millions):


	Three Months Ended				Six Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Numerator:
Income (loss) from continuing operations	$	(105.7)	$	8.9	$	(101.6)	$	7.8
Income (loss) from discontinued operations, net of tax	(2.7)		(0.5)		(4.8)		(2.4)
Net income (loss)	$	(108.4)	$	8.4	$	(106.4)	$	5.4
Denominator:
Weighted average shares outstanding for basic EPS	137.1		135.3		136.9		135.1
Dilutive effect of share-based awards	—		1.3		—		1.4
Weighted average shares outstanding for diluted EPS (1)	137.1		136.6		136.9		136.5

(1) In the period of a net loss from continuing operations, diluted shares equal basic shares.

Shareholders' Equity

In October 2018, our Board of Directors authorized up to $1.0 billion of share repurchases with no expiration date, subject to the Board of Directors’ approval of the pricing parameters and amount that may be repurchased under each specific share repurchase program (the "2018 Authorization"). We did not repurchase any shares during the three and six months ended June 29, 2024 or July 1, 2023.