Earnings (Loss) Per Share (Tables)

6 Months Ended

Jul. 03, 2026

Schedule of Computation of Earnings Per Share and Effect on Weighted-Average Number of Shares

The following table shows the computation of basic and diluted earnings per share:


	Second Quarter of				First Two Quarters of
	2026		2025		2026		2025
(In millions, except per share amounts)
Numerator:
Net (loss) income	$	(471.7)	$	89.2	$	(372.8)	$	155.9
Denominator:
Weighted-average shares of common stock outstanding - basic	233.0		238.1		233.7		240.7
Effect of dilutive securities	—		1.5		—		2.2
Weighted-average shares of common stock outstanding - diluted	233.0		239.6		233.7		242.9
Net (loss) earnings per share
Basic	$	(2.02)	$	0.37	$	(1.60)	$	0.65
Diluted	$	(2.02)	$	0.37	$	(1.60)	$	0.64
Antidilutive shares (1)	3.2		0.8		3.4		0.6

(1) Antidilutive stock-based awards are excluded from the weighted-average shares used to calculate diluted (loss) earnings per share because of their antidilutive impact.