Earnings Per Share (Tables)

6 Months Ended

Jun. 28, 2024

Earnings Per Share [Abstract]

Schedule of Computation of Earnings Per Share and Effect on Weighted-Average Number of Shares

The following table shows the computation of basic and diluted earnings per share:

	Second Quarter of				First Two Quarters of
	2024		2023		2024		2023
(In millions, except per share amounts)
Numerator:
Net income	$	1,316.4	$	44.6	$	1,373.6	$	173.4
Denominator:
Weighted-average shares of common stock outstanding - basic	245.1		248.1		245.3		247.7
Effect of dilutive securities	1.3		0.9		1.6		1.2
Weighted-average shares of common stock outstanding - diluted	246.4		249.0		246.9		248.9
Basic earnings per share	$	5.37	$	0.18	$	5.60	$	0.70
Diluted earnings per share	$	5.34	$	0.18	$	5.56	$	0.70
Antidilutive weighted-average shares (1)	2.2		3.8		1.5		1.9

(1)    Antidilutive stock-based awards are excluded from the calculation of diluted shares and diluted earnings per share because their impact would increase diluted earnings per share.