v3.26.1
Earnings Per Share
6 Months Ended
Jul. 04, 2026
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Earnings per share is computed using the two-class method. The two-class method determines earnings per share for each class of common stock and participating securities according to dividends or dividend equivalents and their respective participation rights in undistributed earnings. Participating securities represent restricted stock units in which the participants have non-forfeitable rights to dividend equivalents during the service period.
The following table reconciles the numerators and denominators used in the calculation of basic and diluted earnings per share ("EPS"):

Three Months Ended - July 4, 2026Three Months Ended - June 28, 2025
Computation of Earnings Per ShareNet IncomeBasic SharesDilutive SharesNet IncomeBasic SharesDilutive Shares
Amounts used in calculating earnings per share$51.1 73.173.2$48.2 46.247.1
Impact of participating shares(0.7)(1.0)(1.0)— — — 
Amounts used in calculating earnings per share, excluding participating securities$50.4 72.172.1$48.2 46.247.1
Earnings per share$0.70 $0.70 $1.04 $1.02 
Six Months Ended - July 4, 2026Six Months Ended - June 28, 2025
Computation of Earnings Per ShareNet Income Basic SharesDilutive SharesNet IncomeBasic SharesDilutive Shares
Amounts used in calculating earnings per share$12.3 73.173.2$62.2 46.647.6
Impact of participating shares(0.1)(1.3)(1.3)— — — 
Amounts used in calculating earnings per share, excluding participating securities$12.1 71.871.9$62.2 46.647.6
Earnings per share$0.17 $0.17 $1.33 $1.31 
Potentially dilutive shares from stock-based compensation plans included in dilutive shares were as follows:
Three Months EndedSix Months Ended
July 4,
2026
June 28,
2025
July 4,
2026
June 28,
2025
Potentially dilutive shares from stock-based compensation plans0.0 1.0 0.0 1.0 

The year-over-year increase in shares outstanding in 2026 was primarily due to the issuance of 25.2 million shares in December 2025 as part of the consideration to acquire Steelcase.

The weighted-average common stock equivalents presented above do not include the effect of the common stock equivalents in the table below because their inclusion would be anti-dilutive:
Three Months EndedSix Months Ended
July 4,
2026
June 28,
2025
July 4,
2026
June 28,
2025
Common stock equivalents excluded because their inclusion would be anti-dilutive0.8 0.3 0.7 0.1