Income From Continuing Operations Per Common Share

9 Months Ended

Mar. 30, 2018

Earnings Per Share [Abstract]

Income From Continuing Operations Per Common Share

Note L — Income From Continuing Operations Per Common Share

The computations of income from continuing operations per common share are as follows:

	Quarter Ended						Three Quarters Ended
	March 30, 2018			March 31, 2017			March 30, 2018			March 31, 2017
	(In millions, except per share amounts)
Income from continuing operations	$	203		$	164		$	509		$	472
Adjustments for participating securities outstanding	(1		)	(1		)	(1		)	(1		)
Income from continuing operations used in per basic and diluted common share calculations (A)	$	202		$	163		$	508		$	471
Basic weighted average common shares outstanding (B)	118.4			122.6			118.7			123.3
Impact of dilutive share-based awards	2.6			1.9			2.4			1.7
Diluted weighted average common shares outstanding (C)	121.0			124.5			121.1			125.0
Income from continuing operations per basic common share (A)/(B)	$	1.71		$	1.33		$	4.28		$	3.82
Income from continuing operations per diluted common share (A)/(C)	$	1.67		$	1.31		$	4.19		$	3.77

Potential dilutive common shares primarily consist of employee stock options and restricted and performance unit awards. Income from continuing operations per diluted common share excludes the antidilutive impact of 30,670 and 64,554 weighted average share-based awards outstanding in the quarter and three quarters ended March 30, 2018, respectively, and 562,010 in the three quarters ended March 31, 2017.