| Reconciliation Of The Numerator And Denominator Of Earnings (Loss) Per Common Share |
A reconciliation of the numerator and denominator of earnings (loss) per common share-basic to earnings (loss) per common share-assuming dilution is as follows (in millions, except per share data): | | | | | | | | | | | | | | | | | | Three Fiscal Months Ended | | Six Fiscal Months Ended | (in millions, except per share data) | June 28, 2013 | | June 29, 2012 | | June 28, 2013 | | June 29, 2012 | Earnings (loss) per common share – basic: | | | | | | | | Net income (loss) attributable to Company common shareholders | $ | 8.2 |
| | $ | 17.7 |
| | $ | (37.6 | ) | | $ | 42.6 |
| Less: Net income allocated to participating securities (4) | — |
| | — |
| | — |
| | — |
| Net income (loss) for basic EPS computations (1) | 8.2 |
| | 17.7 |
| | (37.6 | ) | | 42.6 |
| Weighted average shares outstanding for basic EPS computation (2) | 49.5 |
| | 49.8 |
| | 49.6 |
| | 49.8 |
| Earnings (loss) per common share – basic (3) | $ | 0.17 |
| | $ | 0.36 |
| | $ | (0.76 | ) | | $ | 0.86 |
| Earnings (loss) per common share – assuming dilution: | | | | | | | | Net income (loss) attributable to Company common shareholders | $ | 8.2 |
| | $ | 17.7 |
| | $ | (37.6 | ) | | $ | 42.6 |
| Add: preferred stock dividends, if applicable | 0.1 |
| | 0.1 |
| | — |
| | 0.2 |
| Net income (loss) for diluted EPS computation (1) | $ | 8.3 |
| | $ | 17.8 |
| | $ | (37.6 | ) | | $ | 42.8 |
| Weighted average shares outstanding including nonvested shares | 49.5 |
| | 49.8 |
| | 49.6 |
| | 49.8 |
| Dilutive effect of stock options and restricted stock units | 1.2 |
| | 0.9 |
| | — |
| | 0.9 |
| Dilutive effect of assumed conversion of preferred stock | 0.3 |
| | 0.4 |
| | — |
| | 0.4 |
| Weighted average shares outstanding for diluted EPS computation (2) | 51.0 |
| | 51.1 |
| | 49.6 |
| | 51.1 |
| Earnings (loss) per common share – assuming dilution | $ | 0.16 |
| | $ | 0.35 |
| | $ | (0.76 | ) | | $ | 0.84 |
|
| | (3) | Under the two-class method, earnings (loss) per share – basic reflects undistributed earnings per share for both common stock and unvested share-based payment awards (restricted stock). |
| | (4) | Outstanding unvested share-based payment awards that contain rights to non-forfeitable dividends are considered participating securities in undistributed earnings in the calculation above; however, the effect rounded to $0.0 million in the three and six months ended June 28, 2013 |
|
| Impact Of Company's Stock Price On Assuming Dilution Calculation For The Convertible Notes |
The following table provides examples of how changes in the Company’s stock price would require the inclusion of additional shares in the denominator of the weighted average shares outstanding – assuming dilution calculation for the 0.875% Convertible Notes. The table also reflects the impact on the number of shares that the Company would expect to issue upon concurrent settlement of the 0.875% Convertible Notes and the note hedges and warrants. | | | | | | | | | | | | | | | | Share Price | Shares Underlying 0.875% Convertible Notes | | Warrant Shares | | Total Treasury Method Incremental Shares (1) | | Shares Due to the Company under Note Hedges | | Incremental Shares Issued by the Company upon Conversion (2) | $50.36 | — |
| | — |
| | — |
| | — |
| | — |
| $60.36 | 1,167,502 |
| | — |
| | 1,167,502 |
| | (1,167,502 | ) | | — |
| $70.36 | 2,003,400 |
| | — |
| | 2,003,400 |
| | (2,003,400 | ) | | — |
| $80.36 | 2,631,259 |
| | 382,618 |
| | 3,013,877 |
| | (2,631,259 | ) | | 382,618 |
| $90.36 | 3,120,150 |
| | 1,120,363 |
| | 4,240,513 |
| | (3,120,150 | ) | | 1,120,363 |
| $100.36 | 3,511,614 |
| | 1,711,088 |
| | 5,222,702 |
| | (3,511,614 | ) | | 1,711,088 |
|
| | (1) | Represents the number of incremental shares that must be included in the calculation of fully diluted shares under GAAP. |
| | (2) | Represents the number of incremental shares to be issued by the Company upon conversion of the 0.875% Convertible Notes, assuming concurrent settlement of the note hedges and warrants. |
|
| Impact Of Company's Stock Price On Assuming Dilution Calculation For The Subordinated Convertible Notes |
The following table provides examples of how changes in the Company’s stock price would require the inclusion of additional shares in the denominator of the weighted average shares outstanding – assuming dilution calculation for the Subordinated Convertible Notes. | | | | | | | Share Price | Shares Underlying Subordinated Convertible Notes | | Total Treasury Method Incremental Shares (1) | $36.75 | — |
| | — |
| $38.75 | 603,152 |
| | 603,152 |
| $40.75 | 1,147,099 |
| | 1,147,099 |
| $42.75 | 1,640,151 |
| | 1,640,151 |
| $44.75 | 2,089,131 |
| | 2,089,131 |
|
| | (1) | Represents the number of incremental shares that must be included in the calculation of fully diluted shares under GAAP. |
|