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Earnings Per Share
3 Months Ended
Sep. 29, 2018
Earnings Per Share [Abstract]  
Earnings Per Share

12.

Earnings Per Share

Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted EPS is calculated using the weighted-average number of common shares and dilutive potential common shares outstanding during the period. In computing diluted EPS, the average closing stock price for the period is used in determining the number of shares assumed to be purchased with the proceeds from the exercise of stock options under the treasury stock method. Potential common shares of 0.5 million for the three months ended September 29, 2018 and 1.2 million for the three months ended September 30, 2017 were not included in computing diluted earnings per share because the effect would have been antidilutive.

A reconciliation of the numerators and denominators for the basic and diluted EPS computations is as follows:

 

(In millions, except per share amounts)

 

Three months ended

September 29, 2018

 

 

Three months ended

September 30, 2017

 

Numerator:

 

 

 

 

 

 

 

 

Net Income

 

$

28.2

 

 

$

22.6

 

Denominator:

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding

 

 

103.5

 

 

 

100.9

 

Dilutive effect of share-based awards

 

 

1.6

 

 

 

3.0

 

Weighted-average dilutive shares outstanding

 

 

105.1

 

 

 

103.9

 

Basic earnings per share

 

$

0.27

 

 

$

0.22

 

Diluted earnings per share

 

$

0.27

 

 

$

0.22