Net Income Per Common Share

6 Months Ended

Jul. 01, 2017

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				Six Months Ended
(In millions, except per share amounts)	July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016
(A) Net income available to common shareholders	$	120.9	$	80.0	$	233.1	$	169.6
(B) Weighted average number of common shares outstanding	88.5		89.1		88.4		89.3
Dilutive shares (additional common shares issuable under stock-based awards)(1)	1.4		1.6		1.6		1.6
(C) Weighted average number of common shares outstanding, assuming dilution	89.9		90.7		90.0		90.9
Net income per common share (A) ÷ (B)	$	1.37	$	.90	$	2.64	$	1.90
Net income per common share, assuming dilution (A) ÷ (C)	$	1.34	$	.88	$	2.59	$	1.87

(1)In 2017, the dilutive shares calculation reflects the impact of our adoption of the accounting guidance update described in Note 1, “General.”

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 for both the three and six months ended July 1, 2017, and approximately .1 million shares and .2 million shares for the three and six months ended July 2, 2016, respectively.