Stockholders' Equity (Tables)

6 Months Ended

Jun. 29, 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				26 Weeks Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Numerator:
Net income	$	198	$	182	$	280	$	264
Less: Series A Preferred Stock Dividends	—		—		—		(7)
Net income available to common shareholders	$	198	$	182	$	280	$	257
Denominator:
Weighted-average common shares outstanding—basic	246		238		245		232
Effect of dilutive share-based awards	2		2		3		2
Effect of dilutive underlying shares of the Series A Preferred Stock (1)	—		11		—		17
Weighted-average common shares outstanding—diluted	248		251		248		251
Net income per share
Basic	$	0.81	$	0.76	$	1.14	$	1.11
Diluted	$	0.80	$	0.73	$	1.13	$	1.05

(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 June 29, 2024, there are no Series A Preferred Stock outstanding.