Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE

v3.19.1
EARNINGS PER SHARE
12 Months Ended
Mar. 30, 2019
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
 
 
 
Year Ended March
 
 
Three Months
Ended March
(Transition Period)
 
Year Ended December
(In thousands, except per share amounts)
 
2019
 
 
2018
 
2017
 
2016
Earnings per share — basic:
 
 
 
 
 
 
 
 
 
Income from continuing operations
 
$
1,259,004

 
 
$
261,164

 
$
721,209

 
$
1,078,854

Weighted average common shares outstanding
 
395,189

 
 
395,253

 
399,223

 
416,103

Earnings per share from continuing operations
 
$
3.19

 
 
$
0.66

 
$
1.81

 
$
2.59

Earnings per share — diluted:
 

 
 
 
 

 

Income from continuing operations
 
$
1,259,004

 
 
$
261,164

 
$
721,209

 
$
1,078,854

Weighted average common shares outstanding
 
395,189

 
 
395,253

 
399,223

 
416,103

Incremental shares from stock options and other dilutive securities
 
5,307

 
 
6,023

 
4,336

 
5,978

Adjusted weighted average common shares outstanding
 
400,496

 
 
401,276

 
403,559

 
422,081

Earnings per share from continuing operations
 
$
3.14

 
 
$
0.65

 
$
1.79

 
$
2.56



Outstanding options to purchase 0.5 million, 6.9 million and 5.8 million shares of Common Stock were excluded from the calculations of diluted earnings per share in the years ended March 2019, December 2017 and December 2016, 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, 0.8 million shares of performance-based RSUs were excluded from the calculations of diluted earnings per share in the year ended March 2019, and 0.9 million shares were excluded in each of the three months ended March 2018 and the years ended December 2017 and 2016 because these units were not considered to be contingent outstanding shares.