Net Income Per Common Share (Tables)

3 Months Ended

Oct. 03, 2025

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table presents the computation of basic and diluted income per common share:

	Three Months Ended
	October 3, 2025		September 27, 2024
	(in millions, except per share data)
Net income from continuing operations	$	1,182	$	153
Dividends allocated to preferred shareholders	(5)		(2)
Income attributable to participating securities(1)	(25)		(2)
Net income from continuing operations attributable to common shareholders - basic	1,152		149
Net income from discontinued operations, net of taxes, attributable to common shareholders	—		332
Net income attributable to common shareholders - basic	$	1,152	$	481
Net income from continuing operations attributable to common shareholders - basic	$	1,152	$	149
Re-allocation of participating securities considered potentially dilutive	2		—
Net income from continuing operations attributable to common shareholders - diluted	1,154		149
Net income from discontinued operations, net of taxes, attributable to common shareholders	—		332
Net income attributable to common shareholders - diluted	$	1,154	$	481
Weighted average shares:
Basic	345		344
RSUs, PSUs, ESPP, and convertible notes	31		13
Diluted	376		357
Net income per common share:
Basic:
Continuing operations	$	3.34	$	0.43
Discontinued operations	—		0.97
Net income per common share	3.34		1.40
Diluted:
Continuing operations	3.07		0.42
Discontinued operations	—		0.93
Net income per common share	3.07		1.35

(1)     Participating securities consist of preferred stock because it participates on a pro rata basis in any dividends declared on shares of common stock.