Earnings Per Share From Continuing Operations

6 Months Ended

Jul. 01, 2011

Earnings Per Share From Continuing Operations

Earnings Per Share From Continuing Operations

NOTE 10. EARNINGS PER SHARE FROM CONTINUING OPERATIONS

Basic earnings per share (EPS) from continuing operations is calculated by dividing net earnings from continuing operations by the weighted average number of common shares outstanding for the applicable period. Diluted EPS from continuing operations is calculated after adjusting the numerator and the denominator of the basic EPS calculation for the effect of all potential dilutive common shares outstanding during the period. For the three and six months ended July 2, 2010, approximately 600 thousand options to purchase shares were not included in the diluted earnings per share calculation as the impact of their inclusion would have been anti-dilutive. There were no anti-dilutive options for the three and six months ended July 1, 2011. Information related to the calculation of earnings per share is summarized as follows ($ in millions, except per share amounts):

	Net Earnings From Continuing Operations (Numerator)		Shares (Denominator)		Per Share Amount
For the Three Months Ended July 1, 2011:
Basic EPS	$	449.6		667.2	$	0.67
Adjustment for interest on convertible debentures		1.6		—
Incremental shares from assumed exercise of dilutive options		—		13.5
Incremental shares from assumed conversion of the convertible debentures		—		13.9
Diluted EPS	$	451.2		694.6	$	0.65
For the Three Months Ended July 2, 2010:
Basic EPS	$	362.1		652.5	$	0.55
Adjustment for interest on convertible debentures		2.6		—
Incremental shares from assumed exercise of dilutive options		—		7.8
Incremental shares from assumed conversion of the convertible debentures		—		22.0
Diluted EPS	$	364.7		682.3	$	0.53
	Net Earnings From Continuing Operations (Numerator)		Shares (Denominator)		Per Share Amount
For the Six Months Ended July 1, 2011:
Basic EPS	$	869.9		664.4	$	1.31
Adjustment for interest on convertible debentures		3.7		—
Incremental shares from assumed exercise of dilutive options		—		13.2
Incremental shares from assumed conversion of the convertible debentures		—		13.9
Diluted EPS	$	873.6		691.5	$	1.26
For the Six Months Ended July 2, 2010:
Basic EPS	$	654.9		650.7	$	1.01
Adjustment for interest on convertible debentures		5.4		—
Incremental shares from assumed exercise of dilutive options		—		7.5
Incremental shares from assumed conversion of the convertible debentures		—		22.0
Diluted EPS	$	660.3		680.2	$	0.97