Net Income Per Common Share

3 Months Ended

Apr. 01, 2023

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 1, 2023		April 2, 2022
(A)Net income	$	121.2	$	198.2
(B)Weighted average number of common shares outstanding	80.9		82.4
Dilutive shares (additional common shares issuable under stock-based awards)	.6		.6
(C) Weighted average number of common shares outstanding, assuming dilution	81.5		83.0
Net income per common share: (A) ÷ (B)	$	1.50	$	2.41
Net income per common share, assuming dilution: (A) ÷ (C)	$	1.49	$	2.39

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 this computation were not significant for the three months ended April 1, 2023 or April 2, 2022.