Net Income Per Common Share

9 Months Ended

Oct. 03, 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					Nine Months Ended
(In millions, except per share amounts)		October 3, 2015		September 27, 2014			October 3, 2015			September 27, 2014
(A)	Income from continuing operations	$	81.3	$	60.9		$	217.9		$	177.5
(B)	Income (loss) from discontinued operations, net of tax	.4		(.7		)	(.6		)	(3.0		)
(C)	Net income available to common shareholders	$	81.7	$	60.2		$	217.3		$	174.5
(D)	Weighted average number of common shares outstanding	91.5		93.3			91.1			94.7
	Dilutive shares (additional common shares issuable under stock-based awards)	1.7		1.9			1.8			1.9
(E)	Weighted average number of common shares outstanding, assuming dilution	93.2		95.2			92.9			96.6
Net income (loss) per common share:
Continuing operations (A) ÷ (D)		$	.89	$	.65		$	2.39		$	1.87
Discontinued operations (B) ÷ (D)		–		–			–			(.03		)
Net income per common share (C) ÷ (D)		$	.89	$	.65		$	2.39		$	1.84
Net income (loss) per common share, assuming dilution:
Continuing operations (A) ÷ (E)		$	.87	$	.64		$	2.35		$	1.84
Discontinued operations (B) ÷ (E)		.01		(.01		)	(.01		)	(.03		)
Net income per common share, assuming dilution (C) ÷ (E)		$	.88	$	.63		$	2.34		$	1.81

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 .5 million shares and 1 million shares for the three and nine months ended October 3, 2015, respectively, and approximately 3 million shares for both the three and nine months ended September 27, 2014.