Net Income Per Common Share

3 Months Ended

Apr. 02, 2022

Earnings Per Share [Abstract]

Net Income Per Common Share

Net Income Per Common Share

Net income per common share was computed as follows:

	Three Months Ended
(In millions, except per share amounts)	April 2, 2022		April 3, 2021
(A)Net income	$	198.2	$	209.5
(B)Weighted average number of common shares outstanding	82.4		83.1
Dilutive shares (additional common shares issuable under stock-based awards)	.6		.8
(C) Weighted average number of common shares outstanding, assuming dilution	83.0		83.9
Net income per common share: (A) ÷ (B)	$	2.41	$	2.52
Net income per common share, assuming dilution: (A) ÷ (C)	$	2.39	$	2.50

Certain stock-based compensation awards were not included in the computation of net income per common share, assuming dilution, because they would not have had a dilutive effect. Stock-based compensation awards excluded from the computation were not significant for the three months ended April 2, 2022 or April 3, 2021.