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Net Income Per Common Share
 3 Months Ended
Apr. 04, 2015
Net Income Per Common Share  
Net Income Per Common Share

 

Note 12.  Net Income Per Common Share

 

Net income per common share was computed as follows:

 

 

 

Three Months Ended

 

(In millions, except per share amounts)

 

April 4, 2015

 

March 29, 2014

 

(A)

Income from continuing operations

 

$
71.6 

 

$
71.6 

 

(B)

Loss from discontinued operations, net of tax

 

–

 

(.4

)

(C)

Net income available to common shareholders

 

$
71.6 

 

$
71.2 

 

(D)

Weighted-average number of common shares outstanding

 
90.6 

 
96.1 

 

 

Dilutive shares (additional common shares issuable under stock-based awards)

 
1.8 

 
1.9 

 

(E)

Weighted-average number of common shares outstanding, assuming dilution

 
92.4 

 
98.0 

 

Net income per common share:

 

 

 

 

 

 

Continuing operations (A) ÷ (D)

 

$

.79

 

$

.74

 

 

Discontinued operations (B) ÷ (D)

 

–

 

–

 

Net income per common share (C) ÷ (D)

 

$

.79

 

$

.74

 

Net income per common share, assuming dilution:

 

 

 

 

 

 

Continuing operations (A) ÷ (E)

 

$

.77

 

$

.73

 

 

Discontinued operations (B) ÷ (E)

 

–

 

–

 

Net income per common share, assuming dilution (C) ÷ (E) 

 

$

.77

 

$

.73

 

 

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 totaled approximately 1 million shares and 4 million shares for the three months ended April 4, 2015 and March 29, 2014, respectively.