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Net Earnings Per Share
 6 Months Ended
Jun. 28, 2019
Earnings Per Share [Abstract]  
Net Earnings Per Share NET EARNINGS PER SHARE
Basic net earnings per share (“EPS”) is calculated by dividing net earnings attributable to common stockholders by the weighted average number of common shares outstanding for the applicable period. Diluted net EPS is computed based on the weighted average number of common shares outstanding increased by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued and reduced by the number of shares the Company could have repurchased with the proceeds from the issuance of the potentially dilutive shares. For both the three and six-month periods ended June 28, 2019 and the three-month period ended June 29, 2018, no options to purchase shares were excluded from the diluted EPS calculation. For the six-month period ended June 29, 2018, approximately two million options to purchase shares were not included in the diluted EPS calculation as the impact of their inclusion would have been anti-dilutive.
The impact of the MCPS calculated under the if-converted method was anti-dilutive, and as such 11.9 million and 8.1 million shares underlying the MCPS were excluded from the diluted EPS calculation for the three and six-month periods ended June 28, 2019, respectively.
Information related to the calculation of net earnings per share is summarized as follows ($ and shares in millions, except per share amounts):
 
Three-Month Period Ended
 
Six-Month Period Ended
 
June 28, 2019
 
June 29, 2018
 
June 28, 2019
 
June 29, 2018
Numerator:
 
 
 
 
 
 
 
Net earnings
$
731.3

 
$
673.8

 
$
1,065.1

 
$
1,240.4

Adjustment for interest on convertible debentures
0.5

 
0.5

 
1.0

 
1.1

MCPS dividends
(22.7
)
 
—

 
(29.2
)
 
—

Net earnings attributable to common stockholders after assumed conversions for diluted EPS
$
709.1

 
$
674.3

 
$
1,036.9

 
$
1,241.5

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding used in basic EPS
717.6

 
700.2

 
712.6

 
699.4

Incremental common shares from:
 
 
 
 
 
 
 
Assumed exercise of dilutive options and vesting of dilutive RSUs and PSUs
8.8

 
6.9

 
8.8

 
7.6

Assumed conversion of the convertible debentures
1.5

 
2.4

 
1.8

 
2.5

Weighted average common shares outstanding used in diluted EPS
727.9

 
709.5

 
723.2

 
709.5

 
 
 
 
 
 
 
 
Basic EPS
$
0.99

 
$
0.96

 
$
1.45

 
$
1.77

Diluted EPS
$
0.97

 
$
0.95

 
$
1.43

 
$
1.75