Net Income Per Common Share

6 Months Ended

Jul. 01, 2023

Net income per common share was computed as follows:


	Three Months Ended				Six Months Ended
(In millions, except per share amounts)	July 1, 2023		July 2, 2022		July 1, 2023		July 2, 2022
(A)Net income	$	100.4	$	214.5	$	221.6	$	412.7
(B)Weighted average number of common shares outstanding	80.7		81.7		80.8		82.0
Dilutive shares (additional common shares issuable under stock-based awards)	.3		.4		.4		.6
(C) Weighted average number of common shares outstanding, assuming dilution	81.0		82.1		81.2		82.6
Net income per common share: (A) ÷ (B)	$	1.24	$	2.63	$	2.74	$	5.03
Net income per common share, assuming dilution: (A) ÷ (C)	$	1.24	$	2.61	$	2.73	$	5.00

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 totaled 0.1 million shares for the three months ended July 1, 2023 and were not significant for the three months ended July 2, 2022. Stock-based compensation awards excluded from the computation totaled 0.1 million shares for the six months ended July 1, 2023 and were not significant for the six months ended July 2, 2022.