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Net Earnings Per Share
 9 Months Ended
Sep. 27, 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 (including subsidiary denominated equity) 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 nine-month periods ended September 27, 2019 and the three-month period ended September 28, 2018, no options to purchase shares were excluded from the diluted EPS calculation. For the nine-month period ended September 28, 2018, approximately one 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 12 million shares and 9 million shares underlying the MCPS were excluded from the diluted EPS calculation for the three and nine-month periods ended September 27, 2019, respectively. The inclusion of Envista’s dilutive securities in the calculation of the Company’s net earnings attributable to common stockholders after assumed conversions did not significantly impact the Company’s diluted EPS for the three and nine-month periods ended September 27, 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
 
Nine-Month Period Ended
 
September 27, 2019
 
September 28, 2018
 
September 27, 2019
 
September 28, 2018
Numerator:
 
 
 
 
 
 
 
Net earnings
$
673.9

 
$
663.7

 
$
1,739.0

 
$
1,904.1

Net earnings attributable to noncontrolling interests
(5.9
)
 
—

 
(5.9
)
 
—

MCPS dividends
(19.6
)
 
—

 
(48.8
)
 
—

Net earnings attributable to common stockholders (used in Basis EPS)
648.4

 
663.7


1,684.3


1,904.1

Adjustment for interest on convertible debentures
0.4

 
0.6

 
1.4

 
1.7

Net earnings attributable to common stockholders after assumed conversions (used in Diluted EPS)
$
648.8

 
$
664.3


$
1,685.7


$
1,905.8

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding (used in Basic EPS)
718.8

 
701.4

 
714.7

 
700.1

Incremental common shares from:
 
 
 
 
 
 
 
Assumed exercise of dilutive options and vesting of dilutive RSUs and PSUs
9.1

 
6.9

 
8.9

 
7.3

Assumed conversion of the convertible debentures
1.4

 
2.3

 
1.6

 
2.5

Weighted average common shares outstanding (used in Diluted EPS)
729.3

 
710.6

 
725.2

 
709.9

 
 
 
 
 
 
 
 
Basic EPS
$
0.90

 
$
0.95


$
2.36


$
2.72

Diluted EPS
$
0.89

 
$
0.93

 
$
2.32

 
$
2.68