Earnings per Share ("EPS") (Tables)

3 Months Ended

Mar. 30, 2013

Earnings Per Share [Abstract]

Effect of dilutive securities on diluted earnings per share

The following summarizes the effect of dilutive securities on diluted EPS:

	Thirteen Weeks Ended
	March 30, 2013			March 31, 2012
	(In millions, except per share amounts)
Amounts attributable to MCBC
Net income (loss) from continuing operations	$	36.5		$	79.4
Income (loss) from discontinued operations, net of tax	(0.9		)	0.1
Net income (loss) attributable to MCBC	$	35.6		$	79.5
Weighted-average shares for basic EPS	181.7			180.3
Effect of dilutive securities:
Stock options and SOSARs	0.7			0.8
RSUs, PSUs, PUs and DSUs	0.5			0.6
Weighted-average shares for diluted EPS	182.9			181.7
Basic net income (loss) per share:
Continuing operations attributable to MCBC	$	0.20		$	0.44
Discontinued operations attributable to MCBC	—			—
Basic net income (loss) attributable to MCBC	$	0.20		$	0.44
Diluted net income (loss) per share:
Continuing operations attributable to MCBC	$	0.20		$	0.44
Discontinued operations attributable to MCBC	—			—
Diluted net income (loss) attributable to MCBC	$	0.20		$	0.44
Dividends declared and paid per share	$	0.32		$	0.32

Anti-dilutive securities excluded from computation of diluted earnings per share

The following anti-dilutive securities were excluded from the computation of the effect of dilutive securities on diluted earnings per share:

	Thirteen Weeks Ended
	March 30, 2013	March 31, 2012
	(In millions)
Stock options, SOSARs and RSUs	0.2	0.8
Shares of Class B common stock issuable upon assumed conversion of the 2.5% Convertible Senior Notes(1)	11.0	10.9
Warrants to issue shares of Class B common stock(1)	11.0	10.9
Shares of Class B common stock issuable upon assumed conversion of the €500 million Convertible Note(2)	0.2	—
Total anti-dilutive securities	22.4	22.6

(1) In June 2007, we issued $575 million of senior convertible notes due July 2013. The impact of a net share settlement of the conversion amount at maturity will begin to dilute earnings per share if and when our stock price reaches $52.18. The impact of stock that could be issued to settle share obligations we could have under the warrants we issued simultaneously with the senior convertible notes issuance will begin to dilute earnings per share when our stock price reaches $66.79. The potential receipt of our stock from counterparties under our purchased call options when and if our stock price is between $52.18 and $66.79 would be anti-dilutive and excluded from any calculations of earnings per share.

(2) Upon closing of the Acquisition in June 2012, we issued a €500 million Zero Coupon Senior Unsecured Convertible Note due 2013 to the Seller. The impact of a net share settlement of the conversion amount at maturity will begin to dilute earnings per share if and when our stock price reaches $49.71 based on foreign exchange rates at March 30, 2013. See further discussion in Note 12, "Debt."