Net Income Per Common Share

6 Months Ended

Jun. 28, 2025

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				Six Months Ended
(In millions, except per share amounts)	June 28, 2025		June 29, 2024		June 28, 2025		June 29, 2024
(A)Net income	$	189.0	$	176.8	$	355.3	$	349.2
(B)Weighted average number of common shares outstanding	78.2		80.6		78.7		80.5
Dilutive shares (additional common shares issuable under stock-based awards)	.1		.4		.2		.5
(C) Weighted average number of common shares outstanding, assuming dilution	78.3		81.0		78.9		81.0
Net income per common share: (A) ÷ (B)	$	2.42	$	2.19	$	4.51	$	4.34
Net income per common share, assuming dilution: (A) ÷ (C)	$	2.41	$	2.18	$	4.50	$	4.31

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 June 28, 2025 and June 29, 2024. Stock-based compensation awards excluded from the computation totaled 0.2 million shares for the six months ended June 28, 2025 and 0.1 million shares for the six months ended June 29, 2024.