Earnings per share

3 Months Ended

Mar. 28, 2020

Earnings Per Share [Abstract]

Earnings per share

Earnings per share

Basic earnings per share represents net income attributable to shareholders divided by the weighted average number of shares outstanding during the period. Diluted earnings per share considers the dilutive effect of potential shares, unless the inclusion of the potential shares would have an anti-dilutive effect. The treasury stock method is used to determine the potential dilutive shares resulting from assumed exercises of equity-related instruments.

The computation of earnings per share is presented below:

	Three months ended
(dollars in millions, except share numbers and per share amounts)	March 28, 2020		March 30, 2019
Net income attributable to shareholders	$	35.6	$	613.7
Weighted average number of shares outstanding	290,609,974		289,928,526
Dilutive effect of share-based awards	1,501,279		4,733,387
Diluted weighted average number of shares outstanding	292,111,253		294,661,913
Basic earnings per share	$	0.12	$	2.12
Diluted earnings per share	$	0.12	$	2.08

For the three months ended March 28, 2020 and March 30, 2019, shares totaling 5,508,174 and 3,809,508 shares, respectively, were excluded from the diluted earnings per share calculation because they were anti-dilutive.