Net Income Per Share

Basic net income per share was calculated by dividing net income by the weighted average number of outstanding common shares for the period. Diluted net income per share was calculated consistent with basic net income per share including the effect of dilutive unissued common shares related to the Company's stock-based employee compensation program. The effect of stock options and RSUs on net income per share-diluted is determined through the application of the treasury stock method, whereby net proceeds received by the Company based on assumed exercises are hypothetically used to repurchase the Company's common stock at the average market price during the period.

For the three months ended March 31, 2019, the weighted average common shares outstanding and the dilutive securities as of June 28, 2019, the Separation Date, were assumed to be outstanding in the calculation of basic weighted average shares and dilutive weighted average shares, respectively.

The following table sets forth the computation of net income per share (in millions except per share amounts):



	Three Months Ended
	March 29, 2020		March 31, 2019
Net income	$	44.7	$	54.5
Weighted average common shares outstanding	133.7		133.4
Effect of dilutive stock awards	1.3		0.7
Weighted average common shares outstanding and potential common shares	135.0		134.1
Net income per share
Basic	$	0.33	$	0.41
Diluted	$	0.33	$	0.41

Stock options that would have an anti-dilutive effect on net income per diluted share and PRSUs subject to performance conditions which have not yet been satisfied are excluded from the calculations. The weighted number of shares outstanding used in the calculation of diluted earnings per share does not include the effect of the following anti-dilutive securities:

Three Months Ended

March 29, 2020

March 31, 2019

Stock-based awards