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Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE

v3.20.1
EARNINGS PER SHARE
 12 Months Ended
Mar. 28, 2020
Earnings Per Share [Abstract] Ìý
EARNINGS PER SHARE EARNINGS PER SHARE
Ìý
Ìý
Ìý
Year Ended March
Ìý
Three Months
Ended March
(Transition Period)
Ìý
Year Ended December
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
(In thousands, except per share amounts)
Ìý
2020
Ìý
Ìý
2019
Ìý
2018
Ìý
2017
Earnings per share — basic:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Income from continuing operations
Ìý
$
629,146

Ìý
Ìý
$
870,426

Ìý
$
128,975

Ìý
$
268,070

Weighted average common shares outstanding
Ìý
395,411

Ìý
Ìý
395,189

Ìý
395,253

Ìý
399,223

Earnings per share from continuing operations
Ìý
$
1.59

Ìý
Ìý
$
2.20

Ìý
$
0.33

Ìý
$
0.67

Earnings per share — diluted:
Ìý

Ìý
Ìý
Ìý
Ìý

Ìý

Income from continuing operations
Ìý
$
629,146

Ìý
Ìý
$
870,426

Ìý
$
128,975

Ìý
$
268,070

Weighted average common shares outstanding
Ìý
395,411

Ìý
Ìý
395,189

Ìý
395,253

Ìý
399,223

Incremental shares from stock options and other dilutive securities
Ìý
4,525

Ìý
Ìý
5,307

Ìý
6,023

Ìý
4,336

Adjusted weighted average common shares outstanding
Ìý
399,936

Ìý
Ìý
400,496

Ìý
401,276

Ìý
403,559

Earnings per share from continuing operations
Ìý
$
1.57

Ìý
Ìý
$
2.17

Ìý
$
0.32

Ìý
$
0.66



Outstanding options to purchase 1.5 million, 0.5 million and 6.9 million shares of Common Stock were excluded from the calculations of diluted earnings per share in the years ended March 2020, March 2019 and December 2017, respectively, because the effect of their inclusion would have been antidilutive to those years. For the three months ended March 2018, all outstanding options to purchase shares were dilutive and included in the calculation of
diluted earnings per share. In addition, 0.6 million and 0.8 million shares of performance-based RSUs were excluded from the calculations of diluted earnings per share in the years ended March 2020 and 2019, respectively, and 0.9 million shares were excluded in each of the three months ended March 2018 and the year ended December 2017 because these units were not considered to be contingent outstanding shares.