NET INCOME PER COMMON SHARE

12 Months Ended

Jan. 01, 2022

Earnings Per Share [Abstract]

NET INCOME PER COMMON SHARE

NOTE 10. NET INCOME PER COMMON SHARE

Net income per common share was computed as follows:

(In millions, except per share amounts)		2021		2020		2019
(A)  Net income	$	740.1	$	555.9	$	303.6
(B)  Weighted average number of common shares outstanding		82.9		83.4		84.0
Dilutive shares (additional common shares issuable under stock-based awards)		.9		.7		1.0
(C)  Weighted average number of common shares outstanding, assuming dilution		83.8		84.1		85.0
Net income per common share (A) ÷ (B)	$	8.93	$	6.67	$	3.61
Net income per common share, assuming dilution (A) ÷ (C)	$	8.83	$	6.61	$	3.57

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 in 2021, 2020 or 2019.