Net Income Per Common Share

9 Months Ended

Oct. 01, 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				Nine Months Ended
(In millions, except per share amounts)	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
(A)Net income	$	221.5	$	164.1	$	634.2	$	557.4
(B)Weighted average number of common shares outstanding	81.2		82.9		81.8		83.0
Dilutive shares (additional common shares issuable under stock-based awards)	.7		.8		.6		.9
(C) Weighted average number of common shares outstanding, assuming dilution	81.9		83.7		82.4		83.9
Net income per common share: (A) ÷ (B)	$	2.73	$	1.98	$	7.75	$	6.72
Net income per common share, assuming dilution: (A) ÷ (C)	$	2.70	$	1.96	$	7.70	$	6.64

Certain stock-based compensation awards were excluded from 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 or nine months ended October 1, 2022 or October 2, 2021.