Earnings Per Share

9 Months Ended

Mar. 30, 2019

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 0.2 million and 0.5 million for the three and nine months ended March 30, 2019, respectively, and 0.7 million and 0.7 million for the three and nine months ended March 31, 2018, respectively, 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 March 30, 2019		Three months ended March 31, 2018		Nine months ended March 30, 2019		Nine months ended March 31, 2018
Numerator:
Net Income	$	32.3	$	33.7	$	103.6	$	134.3
Denominator:
Weighted-average common shares outstanding		103.8		102.7		103.8		101.7
Dilutive effect of share-based awards		1.3		1.8		1.3		2.8
Weighted-average dilutive shares outstanding		105.1		104.5		105.1		104.5
Basic earnings per share	$	0.31	$	0.33	$	1.00	$	1.32
Diluted earnings per share	$	0.31	$	0.32	$	0.99	$	1.29