Earnings Per Share (Tables)

9 Months Ended

Sep. 29, 2023

Schedule of earnings per share, basic and diluted

The table below presents the computation of basic and diluted earnings per share ($ and shares in millions, except per share amounts):


	Three Months Ended				Nine Months Ended
	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
Numerator:
Income from continuing operations, net of tax	$	21.5	$	49.6	$	117.2	$	164.5
Income from discontinued operations, net of tax	—		(2.0)		—		5.1
Net income	$	21.5	$	47.6	$	117.2	$	169.6

Denominator:
Weighted-average common shares outstanding used in basic earnings per share	168.2		163.1		165.3		162.7
Incremental common shares from:
Assumed exercise of dilutive options and vesting of dilutive restricted stock units	2.1		2.8		2.4		3.5
Assumed conversion of 2025 Convertible Notes	4.9		11.0		8.6		12.2
Weighted average common shares outstanding used in diluted earnings per share	175.2		176.9		176.3		178.4

Earnings per share:
Earnings from continuing operations - basic	$	0.13	$	0.30	$	0.71	$	1.01
Earnings from continuing operations - diluted	$	0.12	$	0.28	$	0.66	$	0.92

Earnings from discontinued operations - basic	$	—	$	(0.01)	$	—	$	0.03
Earnings from discontinued operations - diluted	$	—	$	(0.01)	$	—	$	0.03

Earnings - basic	$	0.13	$	0.29	$	0.71	$	1.04
Earnings - diluted	$	0.12	$	0.27	$	0.66	$	0.95

Schedule of antidilutive securities excluded from computation of earnings per share

The following table presents the number of outstanding securities not included in the computation of diluted income per share, because their effect was anti-dilutive (in millions):


	Three Months Ended		Nine Months Ended
	September 29, 2023	September 30, 2022	September 29, 2023	September 30, 2022
Stock-based awards	1.9	1.9	2.0	1.5
2028 Convertible Notes	2.6	—	0.9	—
Total	4.5	1.9	2.9	1.5