Basic net earnings per share (“EPS”) is calculated by dividing net earnings attributable to common stockholders by the weighted average number of shares of common stock outstanding for the applicable period. Diluted EPS is similarly calculated, except that the calculation includes the dilutive effect of the assumed issuance of shares under stock-based compensation plans under the treasury stock method, except where the inclusion of such shares would have an anti-dilutive impact. Anti-dilutive options excluded from the diluted EPS calculation for the three-month periods ended March 28, 2025 and March 29, 2024 were 1.5 million and 1.2 million, respectively.

Information related to the calculation of net earnings per share of common stock is summarized as follows ($ and shares in millions, except per share amounts):


	Three Months Ended
		March 28, 2025		March 29, 2024
Numerator
Net earnings		$	171.9	$	207.4



Denominator
Weighted average common shares outstanding used in basic earnings per share		341.1		351.7
Incremental common shares from:
Assumed exercise of dilutive options and vesting of dilutive Stock Awards		3.5		4.3

Weighted average common shares outstanding used in diluted earnings per share		344.6		356.0

Net earnings per common share - Basic		$	0.50	$	0.59
Net earnings per common share - Diluted		$	0.50	$	0.58

On February 17, 2022, the Company's Board of Directors approved a share repurchase program authorizing the Company to repurchase up to 20 million shares of the Company's outstanding common stock from time to time on the open market or in privately negotiated transactions. On January 23, 2024, the Company’s Board of Directors increased the number of shares authorized under the share repurchase program by an additional 11 million shares. As of March 28, 2025, there were 5.5 million shares remaining authorized under the share repurchase program. There is no expiration date for the repurchase program, and the timing and amount of repurchases under the program are determined by the Company's management based on market conditions and other factors. The repurchase program may be suspended or discontinued at any time by the Board of Directors.

During the three-month period ended March 28, 2025, the Company purchased 2.5 million shares of its common stock at an average share price of $81.01. The Company made no repurchases under the plan during the three-month periods ended March 29, 2024. Our common stock repurchases in excess of issuances are subject to a 1% excise tax enacted by the Inflation Reduction Act. Any excise tax incurred is recorded as part of the cost basis of the shares acquired within Common stock repurchases in the Consolidated Condensed Statement of Equity. The payment of the excise tax is recorded within Repurchase of common shares in the Consolidated Condensed Statement of Cash Flows.