Net Earnings Per Share

3 Months Ended

Mar. 30, 2018

NOTE 11. NET EARNINGS PER SHARE

Basic net earnings per share (“EPS”) is calculated by dividing net earnings by the weighted average number of shares of common stock outstanding for the applicable period. Diluted EPS is similarly calculated, except that the calculation includes the dilutive effect of the assumed issuance of shares under stock-based compensation plans except where the inclusion of such shares would have an anti-dilutive impact. There were 1.5 million and 1.8 million anti-dilutive options to purchase shares excluded from the diluted EPS calculation for the three months ended March 30, 2018 and March 31, 2017, respectively.

Information related to the calculation of net earnings per share of common stock is summarized as follows ($ and shares in millions, except per share amounts):



	Net Earnings (Numerator)		Shares (Denominator)	Per Share Amount
For the Three Months Ended March 30, 2018:
Basic EPS	$	261.2	348.6	$	0.75
Incremental shares from assumed exercise of dilutive options and vesting of dilutive Stock Awards	—		5.8
Diluted EPS	$	261.2	354.4	$	0.74

For the Three Months Ended March 31, 2017:
Basic EPS	$	199.7	347.0	$	0.58
Incremental shares from assumed issuance of shares under stock-based compensation plans	—		4.5
Diluted EPS	$	199.7	351.5	$	0.57

On January 23, 2018, we declared a regular quarterly dividend of $0.07 per share paid on March 29, 2018 to holders of record on February 23, 2018. On January 24, 2017, we declared a regular quarterly dividend of $0.07 per share paid on March 31, 2017 to holders of record on February 24, 2017.

For the three months ended March 30, 2018, cash dividend payments of $24.3 million were recorded as dividends to shareholders in the accompanying Consolidated Condensed Statement of Changes in Equity.

On April 12, 2018, we declared a regular quarterly dividend of $0.07 per share payable on June 29, 2018 to holders of record on May 25, 2018.