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77
Derivatives Not
Designated as Hedging
Instruments under ASC 815
Income Statement
Classification
Year-to-Date 2012
Amount of Gain (Loss)
Recorded in Income on
Derivative
Year-to-Date 2011
Amount of Gain (Loss)
Recorded in Income on
Derivative
Foreign Exchange Contracts
…………………………….
Other-net
$
10.0
$
(3.3
)
J. CAPITAL STOCK
EARNINGS PER SHARE — The following table reconciles net earnings attributable to common shareowners and the
weighted average shares outstanding used to calculate basic and diluted earnings per share for the fiscal years ended December
29, 2012, December 31, 2011, and January 1, 2011.
Earnings per Share Computation
2012
2011
2010
Numerator (in millions):
Net earnings from continuing operations attributable to common
shareowners…………………………………………………………….
$
449.5
$
598.4
$
150.6
Net earnings from discontinued operations…………………………….
434.3
76.2
47.6
Net earnings attributable to common shareowners…………………….
$
883.8
$
674.6
$
198.2
Less: Earnings attributable to participating restricted stock units
(“RSU’s”)…………………………………………………………
1.2
1.4
0.5
Net Earnings — basic……………………………………………..
$
882.6
$
673.2
$
197.7
Net Earnings — diluted…………………………………………...
$
883.8
$
674.6
$
198.2
2012
2011
2010
Denominator (in thousands):
Basic earnings per share –– weighted-average shares……………
163,067
165,832
147,224
Dilutive effect of stock options and awards………………………
3,634
4,273
2,943
Diluted earnings per share –– weighted-average shares………….
166,701
170,105
150,167
2012
2011
2010
Earnings per share of common stock:
Basic earnings per share of common stock:
Continuing operations………………………………………..
$
2.75
$
3.60
$
1.02
Discontinued operations……………………………………...
2.66
0.46
0.32
Total basic earnings per share of common stock…………….
$
5.41
$
4.06
$
1.34
Diluted earnings per share of common stock:
Continuing operations………………………………………..
$
2.70
$
3.52
$
1.00
Discontinued operations……………………………………...
2.61
0.45
0.32
Total dilutive earnings per share of common stock………….
$
5.30
$
3.97
$
1.32
The following weighted-average stock options and warrants were not included in the computation of diluted shares outstanding
because the effect would be anti-dilutive (in thousands):
2012
2011
2010
Number of stock options…………………………………………………
1,825
2,379
2,760
Number of stock warrants………………………………………………..
3,419
4,939
4,939
Number of shares related to May 2010 equity purchase contracts………
—
—
2,210
Number of shares related to the convertible preferred units……………..
—
8,458
1,054
During August and September 2012, 4,938,624 stock warrants expired which were associated with the $320.0 million
convertible notes that matured in May 2012. No shares were issued upon their expiration as the warrants were out of the
money.