Stockholders' Equity (Tables)

3 Months Ended

Mar. 30, 2024

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted EPS

The following table sets forth the computation of basic and diluted EPS:

	13 Weeks Ended
	March 30, 2024		April 1, 2023
Numerator:
Net income	$	82	$	82
Less: Series A Preferred Stock Dividends	—		(7)
Net income available to common shareholders	$	82	$	75
Denominator:
Weighted-average common shares outstanding—basic	245		226
Effect of dilutive share-based awards	3		3
Effect of dilutive underlying shares of the Series A Preferred Stock (1)	—		23
Weighted-average common shares outstanding—diluted	248		252
Net income per share
Basic	$	0.33	$	0.33
Diluted	$	0.33	$	0.32

(1)    Under the if-converted method, outstanding shares of the Series A Preferred Stock were treated as if converted to common shares for inclusion in the calculation of the weighted-average common shares outstanding—diluted. Under this approach, if converted, there would be no preferred stock outstanding and therefore no Series A Preferred Stock dividend. As of March 30, 2024, there are no Series A Preferred Stock outstanding.