Net Income Per Common Share

9 Months Ended

Sep. 26, 2020

Net Income Per Common Share

Net Income Per Common Share

Note 9. 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)		September 26, 2020		September 28, 2019		September 26, 2020		September 28, 2019
(A)	Net income available to common shareholders	$	150.5	$	144.6	$	364.4	$	141.1
(B)	Weighted average number of common shares outstanding		83.5		84.0		83.4		84.2
	Dilutive shares (additional common shares issuable under stock-based awards)		.5		.8		.6		.9
(C)	Weighted average number of common shares outstanding, assuming dilution		84.0		84.8		84.0		85.1
Net income per common share: (A) ÷ (B)		$	1.80	$	1.72	$	4.37	$	1.68
Net income per common share, assuming dilution: (A) ÷ (C)		$	1.79	$	1.71	$	4.34	$	1.66

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 were not significant for the three and nine months ended September 26, 2020 or September 28, 2019.