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Net Earnings Per Common Share From Continuing Operations
 3 Months Ended
Apr. 03, 2020
Earnings Per Share [Abstract]  
Net Earnings Per Share NET EARNINGS PER COMMON SHARE FROM CONTINUING OPERATIONS
Basic net earnings per common share (“EPS”) from continuing operations is calculated by taking net earnings from continuing operations less the MCPS dividends divided by the weighted average number of common shares outstanding for the applicable period. Diluted net EPS from continuing operations 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 the three-month period ended April 3, 2020, approximately 2 million options to purchase shares were not included in the diluted EPS calculation as the impact of their inclusion would have been anti-dilutive. For the three-month period ended March 29, 2019, no options to purchase shares were excluded from the diluted EPS calculation.
The impact of the MCPS calculated under the if-converted method was anti-dilutive, and as such 12 million shares and 13 million shares underlying the MCPS were excluded from the diluted EPS calculation for the three-month periods ended April 3, 2020 and March 29, 2019, respectively.
Information related to the calculation of net earnings from continuing operations per common share is summarized as follows ($ and shares in millions, except per share amounts):
 
Three-Month Period Ended
 
April 3, 2020
 
March 29, 2019
Numerator:
 
 
 
Net earnings from continuing operations
$
595.1

 
$
332.3

MCPS dividends
(19.6
)
 
(6.5
)
Net earnings from continuing operations attributable to common stockholders for Basic EPS
575.5

 
325.8

Adjustment for interest on convertible debentures
0.3

 
0.5

Net earnings from continuing operations attributable to common stockholders after assumed conversions for Diluted EPS
$
575.8

 
$
326.3

 
 
 
 
Denominator:
 
 
 
Weighted average common shares outstanding used in Basic EPS
697.2

 
707.6

Incremental common shares from:
 
 
 
Assumed exercise of dilutive options and vesting of dilutive RSUs and PSUs
9.4

 
8.7

Assumed conversion of the convertible debentures
1.3

 
2.2

Weighted average common shares outstanding used in Diluted EPS
707.9

 
718.5

 
 
 
 
Basic EPS from continuing operations
$
0.83

 
$
0.46

Diluted EPS from continuing operations
$
0.81

 
$
0.45