Earnings Per Share

3 Months Ended

Sep. 28, 2019

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 0.4 million for the three months ended September 28, 2019 and 0.5 million for the three months ended September 29, 2018 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 28, 2019		Three months ended September 29, 2018
Numerator:
Net Income	$	36.1	$	28.2
Denominator:
Weighted-average common shares outstanding		104.0		103.5
Dilutive effect of share-based awards		1.6		1.6
Weighted-average dilutive shares outstanding		105.6		105.1
Basic earnings per share	$	0.35	$	0.27
Diluted earnings per share	$	0.34	$	0.27