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100530 - Disclosure - Net Earnings per Common Share (Tables)
(http://www.sealedair.com/20161231/taxonomy/role/DisclosureNetEarningsPerCommonShareTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001012100 (http://www.sec.gov/CIK)
Earnings Per Share [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Earnings Per Share [Abstract]
 
Calculation of Basic and Diluted Net Earnings Per Common Share

The following table sets forth the calculation of basic and diluted net earnings per common share under the two-class method for the years ended December 31:

 

 

 

Year Ended December 31,

 

(In millions, except per share amounts)

 

2016

 

 

2015

 

 

2014

 

Basic Net Earnings Per Common Share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings available to common stockholders

 

$

486.4

 

 

$

335.4

 

 

$

258.1

 

Distributed and allocated undistributed net earnings to non-

   vested restricted stockholders

 

 

(3.4

)

 

 

(2.2

)

 

 

(1.6

)

Distributed and allocated undistributed net earnings to

   common stockholders

 

 

483.0

 

 

 

333.2

 

 

 

256.5

 

Distributed net earnings - dividends paid to common

   stockholders

 

 

(118.7

)

 

 

(106.2

)

 

 

(110.1

)

Allocation of undistributed net earnings to common

   stockholders

 

$

364.3

 

 

$

227.0

 

 

$

146.4

 

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of common shares outstanding - basic

 

 

194.3

 

 

 

203.9

 

 

 

210.0

 

Basic net earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Distributed net earnings to common stockholders

 

$

0.61

 

 

$

0.52

 

 

$

0.52

 

Allocated undistributed net earnings to common

   stockholders

 

 

1.87

 

 

 

1.11

 

 

 

0.70

 

  Basic net earnings per common share(2)

 

$

2.49

 

 

$

1.63

 

 

$

1.22

 

Diluted Net Earnings Per Common Share:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

Distributed and allocated undistributed net earnings to

   common stockholders

 

$

483.0

 

 

$

333.2

 

 

$

256.5

 

Add: Allocated undistributed net earnings to unvested

   restricted stockholders

 

 

2.6

 

 

 

1.6

 

 

 

1.0

 

Less: Undistributed net earnings reallocated to non-

   vested restricted stockholders

 

 

(2.6

)

 

 

(1.6

)

 

 

(0.9

)

Net earnings available to common stockholders - diluted

 

$

483.0

 

 

$

333.2

 

 

$

256.6

 

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of common shares outstanding - basic

 

 

194.3

 

 

 

203.9

 

 

 

210.0

 

Effect of assumed issuance of Settlement agreement

   shares (1)

 

 

—

 

 

 

—

 

 

 

1.6

 

Effect of contingently issuable shares(1)

 

 

1.2

 

 

 

1.3

 

 

 

0.9

 

Effect of unvested restricted stock units(1)

 

 

0.7

 

 

 

0.7

 

 

 

0.8

 

Weighted average number of common shares

   outstanding - diluted under two-class

 

 

196.2

 

 

 

205.9

 

 

 

213.3

 

Effect of unvested restricted stock - participating security(1)

 

 

1.0

 

 

 

0.8

 

 

 

0.6

 

Weighted average number of common shares outstanding -

   diluted under treasury stock

 

 

197.2

 

 

 

206.7

 

 

 

213.9

 

Diluted net earnings per common share(2)

 

$

2.46

 

 

$

1.62

 

 

$

1.20

 

 

 

(1)

Provides for the following items if their inclusion is dilutive: (i) the effect of the issuance of 18 million shares of common stock reserved for the Settlement agreement as defined and (ii) the effect of non-vested restricted stock, restricted stock units and contingently issuable shares using the treasury stock method.

(2)

The Company early adopted ASU 2016-09 on a prospective basis, related to the recognition of excess tax benefits to the income statement which were previously recorded in additional paid-in capital, effective January 1, 2016. This resulted in an additional 446,747 diluted weighted average number of common shares outstanding for the year ended December 31, 2016 and recognition of excess taxbenefits of $18.1 million in income tax provision for the year ended December 31, 2016. As a result,net earnings per common share increased by $0.10 per share for the year ended December 31, 2016. Refer to Note 2, “Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements for further details.